A recent attempt to use what was thought to be counterfeit money on campus is proof the security system the University has in place works.
In early January, Mike Naquin, assistant vice president of finance, said a student visited the fee collections window and attempted to pay her tuition fees in hundred dollar bills she had received from the bank. Cashiers at the window, trained to perform a mark test with a counterfeit indicator pen, marked one of the bills and discovered that the mark turned black.
A counterfeit indicator pen, according to Discovery Company’s howstuffworks.com, contains an iodine solution that reacts to starch found in wood-based paper, the type of white printing paper common to most people. When the pen marks real bills, which are made from a cotton fiber-based paper unique to the United States Treasury, no mark appears.
Naquin said that once the mark turned a different color, University Police was immediately contacted.
Director of University Police Craig Jaccuzzo said police brought the bill to the bank, where various tests were run to prove its legitimacy. The bill was found to be current and valid and was returned to the student so she could pay the remaining part of her fees.
Both Naquin and Jaccuzzo said they doubted the student was trying to get away with fraudulent activity.
“The student was pretty upset about the whole deal,” Naquin said.
“We did not believe that this student had any intention of defrauding the University or possessing counterfeit money,” Jaccuzzo said. “From her reaction and her cooperation, we believed she truly got the money from the bank.”
Counterfeit money is rare occurrence on campus said the two officials.
In his entire career as a University employee, Naquin said he could only recall one instance in which counterfeit money was used to try to pay for something. Jaccuzzo said in his seven years at the University, this is the first time any situation like this has been reported to his department.
Though the outcome was favorable, Jaccuzzo said the situation was a learning experience for the University. Those involved were able to learn the process of how to handle counterfeit bills and realized that the security measures the University has in place are working.
“They have a system of checking bills to make sure they are valid and the cashiers at the windows are informed and educated on the current bills. What they have in place is working.”