Counterfeiting
Securities are Commercial Crimes
The
“Promissory Note,” “Note,” “Mortgage” and the “Deed of Trust” or other similar
“Security Instruments” are “Securities” by definition under the law.
Securities
are regulated by the Securities and Exchange Commission. There are very strict
regulations about what can and cannot be done with “Securities.” There are very
strict regulations that apply to the reproduction or “copying” of “Securities.”
Whereas
defined pursuant to: 27 CFR 72.11, burglary; counterfeiting; forgery;
kidnapping; larceny; robbery; illegal sale or possession of weapons;
prostitution; extortion; swindling; and many other things, like simple
addiction to drugs or marijuana use, are considered and defined as “Commercial
Crimes.”
COUNTERFEITING defined: of making an unauthorized
imitation of a genuine article, typically money, with the intent to deceive or
defraud. Because of the value conferred on money and the high level of
technical skill required to imitate it, counterfeiting is singled out from
other acts of forgery.
It is generally punished as a felony (see felony
and misdemeanor). The international police organization Interpol was
established primarily to organize law-enforcement efforts against
counterfeiting. Software, credit cards, designer clothing, and watches are
among non-money items commonly counterfeited. For more information on counterfeiting, visit
Britannica.com. Britannica Concise Encyclopedia. Copyright © 1994-2008
Encyclopædia Britannica, Inc.
COUNTERFEITING defined: manufacturing
spurious coins, paper money, or evidences of governmental obligation (e.g.,
bonds) in the semblance of the true. There must be sufficient resemblance to
the genuine article to deceive a person using ordinary caution. The offense may
be regarded as a special variety of forgery
. The crime affects property but was historically considered to be an interference with the administration of government. Hence, under an early English statute (1350), counterfeiting the king's seal or his gold and silver coinage was a grave crime against the state amounting to high treason
and was punishable by death. The statute left unchanged the common-law misdemeanors of counterfeiting copper coinage and passing counterfeit foreign currency. Other early statutes were directed against debasing the coinage by clipping or filing off the edges to sell the metal. By the 19th cent. counterfeiting was considered a felony rather than a form of treason.
. The crime affects property but was historically considered to be an interference with the administration of government. Hence, under an early English statute (1350), counterfeiting the king's seal or his gold and silver coinage was a grave crime against the state amounting to high treason
and was punishable by death. The statute left unchanged the common-law misdemeanors of counterfeiting copper coinage and passing counterfeit foreign currency. Other early statutes were directed against debasing the coinage by clipping or filing off the edges to sell the metal. By the 19th cent. counterfeiting was considered a felony rather than a form of treason.
The U.S. Constitution authorizes Congress to "provide for the
punishment of counterfeiting the Securities and current Coin of the United
States." Under that power, statutes have been enacted making criminal the
counterfeiting of the currency and bonds of the United States, of the evidences
of indebtedness (e.g., checks) of the Federal Reserve System, of postage
stamps, and of foreign money used for exchange. Under its powers to define and
punish offenses of international law and its powers to control interstate and
foreign commerce, Congress has passed legislation against the counterfeiting of
foreign money and securities within the United States. Nearly every state now
has statutes against counterfeiting. Since its establishment in 1865 the U.S.
Secret Service has been the primary agency in the combating of counterfeiters
in the United States.
To commit the crime of counterfeiting one does not necessarily
have to make a whole coin or bill. It may be accomplished by plating coins, by
raising the amount of a bill, or by any other alteration calculated to deceive
the recipients. To retain counterfeit money or government obligations knowingly
is also a criminal offense, regardless of how possession was acquired. The
knowing utterance (passing) of counterfeit currency or securities is also criminal. For
the further protection of the currency and of postage stamps, statutes forbid
making certain types of photographs (e.g., in color) where there would be
danger of deception. In the 1990s, counterfeiters began to create high-quality
color prints of paper currency using computer scanning and imaging. The U.S.
government and those of other nations responded by redesigning denominations of
bills. U.S. bills issued since 1996 include microscopic printing, watermarks,
and other security features, The Columbia Electronic Encyclopedia®
Copyright © 2013, Columbia University Press. Licensed from Columbia University
Press. All rights reserved. www.cc.columbia.edu/cu/cup/
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