Counterfeiting Canadian currency is a serious criminal offence. Deterring it requires a joint effort from law enforcement, banks, retailers and citizens.
- The best way to prevent currency counterfeiting is to recognize the security features of Canadian notes.
- Despite new technology, counterfeit bills are often of poor quality. Even a more sophisticated counterfeit note can be recognized by touching, looking, tilting or flipping the note.
- Fraudsters will often target busy retail periods to pass counterfeit notes. Pay attention to customers paying with banknotes that are much higher than the denomination needed.
- For a comprehensive description of banknote security features, visit The Bank of Canada.
What to do if you suspect someone is trying to pass counterfeit currency:
- Explain to the person that gave you the note that you think the bill may be counterfeit and ask for another bill (the person may not be aware of the counterfeit note).
- Advise them that the suspected counterfeit bill should be given to local police for verification.
- Record the details about the circumstances and person/(s) who gave the suspect note (time, context, descriptors of suspect of vehicle).
- Notify police of an attempt to pass a suspected counterfeit bill.
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