The reproduction or alteration of a document or security element with the intent to deceive the public. A counterfeit A banknote (or ‘bill’ as it is often referred to in the US) is a type of negotiable promissory note, issued by a bank or other licensed authority, payable to the bearer on demand. More looks authentic and has been manufactured or altered fraudulently. In most countries, The money used in a particular country at a particular time, like dollar, yen, euro, etc., consisting of banknotes and coins, that does not require endorsement as a medium of exchange. More counterfeiting is a criminal offence under the criminal code.