Counterfeit money is a term used to describe fake currency that is not officially issued by a government. This type of money is illegal, and those caught using it can be subject to significant fines and even time in prison. There are several different synonyms for counterfeit money, including fake money, phony bills, forged currency, and bogus cash. Other terms you may hear include false currency, fraudulent notes, and imitation money. While these terms may differ, they all describe the same thing: a fraudulent attempt to replicate legal tender for personal gain. To avoid being caught in possession of counterfeit money, it's always best to use legitimate currency for all transactions.