The Recent Surge in Counterfeit Bills Essay Example | Topics and Well Written Essays - 2500 words

The Recent Surge in Counterfeit Bills - Essay Example Motivated by these facts, there have been concerns to come up with adequate and effective measures that help in combating counterfeiting activities in a bid to protect the economy, government, and consumers. Some of the ways identified in the following report that employed majorly the aspect of reassessing previous studies include use of international policing agencies, anti-counterfeiting associations, and applications of technology. Examples of technological applications used in fighting counterfeiting as identified in the following report include use of smart cards, biotechnology, chemical technologically developed inks, and use of optical technologies such as holograms. From the research, it is obvious that such actions and strategies have been fruitful in reducing the level of counterfeiting within American and other nations that have been adversely affected by the same criminal offences. In order to create an understanding of the aforementioned, the report has been divided into introduction, background information, purpose, scope, and methodology of the report. These sections have been very useful in providing a general overview of the topic as well as the method and scope use in carrying out the research. On the other hand, the problem and solution sections form the core basis of the study identifying impacts of counterfeiting and their possible solutions. ... No one can deny that the problem of counterfeiting is an extraordinarily well defined one. Other than causing serious negative impacts on the economy of a nation, counterfeits reduce consumer confidence in respect to the products and money that they handle (August & Hwang, 2009). According to the studies conducted by Alcock, Chen, Hui, and Hodson (2003), rise in counterfeits provides Americans with adequate reasons to come up with effective measures of dealing with the problem. One such measure is the introduction of the Prioritizing Resources and Organization for Intellectual Property Act (PRO IP Act), anti-counterfeiting agencies, and employment of technologies that help in combating the same (Haie-Fayle & Wolfgang, 2007; August & Hwang, 2009). In addition, there are other technological measures and practices capable of assisting America and other global nations in combating the counterfeit crimes. Motivated by these facts, the following formal report outlines the ways through whic h existing/inexpensive technologies and practices can be employed in an effort to reduce the loss in consumer confidence that counterfeiting oftentimes induces. Even though the presented formal report will not have the effect of slowing or stopping counterfeiting, if implemented, it will have the effect of weakening the previously mentioned negative effects that counterfeiting wreaks on local businesses, individuals, and consumer confidence. In a bid to attain this objective, the following report provides background, purposes, scope, methodology, problem, solution, conclusions, and recommendations based on previous or secondary sources. Background Rise in counterfeiting