How to deal with counterfeiting - North Korean counterfeiting of US currency

Résumé du document

Counterfeiting is the fact to reproduce or imitate something without being allowed. Today, counterfeiting means bad quality products in people's mind. Nowadays, all industrial markets are touched by this phenomenon : music, clothes, luxury, accessories… Moreover, counterfeiting is easier thanks to “globalization” : exchanges between countries are more important. Internet develops the virtual market which contributes a lot to information exchange. Section 102 of the Coinage Act of 1965 (Title 31 United States Code, Section 392) provides in party: “All coins and currencies of the United States, regardless of when coined and issued, shall be legal tender for all debts, public and private, public charges, taxes, duties and dues.”

The United States has accused the Democratic People's Republic of Korea (DPRK or North Korea) of counterfeiting U.S. $100 Federal Reserve notes (super notes) and passing them off in various countries. This is one of several illicit activities by North Korea apparently done to generate foreign exchange that is used to purchase imports or finance government activities abroad.

Extraits

[...] How to deal with counterfeiting - North Korean counterfeiting of US currency HOW TO DEAL WITH COUNTERFEITING ? SYLLABUS FINAL PAPER Dilemma”: This is a 3,500 words paper, due 30 days after the course, where you will present, analyze and discuss a business ethics dilemma directly or indirectly related to your personal experience (i.e. a complex choice you had to face in your role as employee, intern, consumer, student, etc.), or a specific business issue you became interested in during the course of your studies, or more in general, as citizen. [...]

[...] So many people have been mislead by the North Korea counterfeiting currency. Moreover, as it concerns currencies, a lot of people and intermediaries are implied into the counterfeiting process. Currencies could easily move all around the world. Banco Delta Asia has been implied too. Exchanges between banks are quick and so easy. Once bills are accepted by employees banks, they are automatically transformed into virtual money. False bills are redistributed to other people who wants to withdraw money. The currency channel and way of distribution is so long. [...]

[...] In this case, US currency will loose its proper value, because of North Korean production of false US coins and tickets. Inflation effects As more money will circulate into the society, prices will easily and quickly increase. Non reimbursement Companies which could use false money, without having a fraudulent goal, will not be reimbursed. This will force them to increase their prices, in prevention to counterfeit. II.2. Problems occurred: False money is so similar to true US currency that the money is in circulation since 1989 and banks employees do not manage to detect which money is the right one. [...]

[...] By imitating a good or a service which does not, firstly, belong to us and without having the rights to do it, will automatically have repercussions on the image of the opposed part. Counterfeiting is a very malevolent game. It consists on using the image of another country and producing new bills and coins without being allowed. American awareness was directly touched by this counterfeiting. American people and foreign people who were trustful in the US dollar could feel attacked by the counterfeiting. People lost confident into a currency which could easily be faked. [...]

[...] It is completely unethical as they use the image of a FOREIGN currency to make FALSE money to sell them and earn the PROFITS. They made their profit on the image of a foreign country. III.3. How to fight counterfeiting? When a firm is gonna launch a product or an idea, it has to protect them very carefully: the name, the logo, the catch phrase, the colour, the concept, advertising tools (characters formats, size But when countries create a new currency, it is more difficult. [...]