A few years ago, 2 work study students at Columbia University who had jobs in the print shop started photocopying 20 dollars bills using high tech colour copiers. However, they chose to spend them for all of their purchases in the area of the school. It took the Treasury agents about a day to find them as soon as a set of local businesses started depositing fake bills lol. I don't recall what exactly happened to them.
But you would be surprised at how lax things can be. At one of the hospitals I worked, we received most of our $$ from Medicare in wire transfers, but there were some small programs for which we received paper checks, which would come with a list of accounts being paid for with that check. The check would go to the cashier, and the paperwork to the billing department. The paperwork was sequentially numbered. So one day, the clerk gets voucher number 9, puts it in its log and checks that it is the next one in the sequence. It was not: number 8 was missing. A supervisor calls Medicare, who tells us that the check has cleared, then sends over the voucher and a copy of the cancelled check. Someone had taken the check, which was for $78,000 written to XYZ Hospital, and simply typed a doctor's name above the name of the hospital. They then took it to a CHECK CASHING STORE which claimed that they had seen ID and given the full amount to the person with the check. (Sure, that's how most physicians collect payments of that magnitude, in cash...)The police at our local precinct told us it was a scam by the check cashing place but hard to prove. They would buy the check from the thief for a few thousand dollars, then submit the check for payment. If it turned out to be fraudulent, they would apply to their insurance carrier for restitution. God only knows what kind of accountants they had to cover this up; they must keep stocks of money in boxes under the counter which no one can trace.
We were made whole by Medicare, but were unable to ID just who had taken the check. I don't think the check cashing place had any problems.