Counterfeit cash cropping up this summer
It’s not the kind of news anyone wants to hear but it is important that everyone knows about it. OPP have issued a warning about a “shotgun approach” counterfeiters are taking this season to their bogus bill business.
The OPP Anti-Rackets Branch have posted an email alert to media about more than 80 reports, received so far this year from just the western region of the province, about counterfeit currency ending up in business cash registers or handed in at bank teller deposit counters.
The situation is unusual because counterfeiters are just limiting themselves to phony versions of high-value Canadian and American currency, they are going with a “shotgun approach” and passing around fake money in five-dollar to 100-dollar denominations.
The OPP and the RCMP are working together with the Bank of Canada on a public awareness and education campaign about counterfeit currency. The RCMP’s own statistics on counterfeit bill cases for last year indicated more than 20 per cent of bogus bills showing up in Canada end up passed in Ontario.
“Counterfeit deterrence requires a team approach from all partners, including law enforcement agencies, the Bank of Canada, retailers, and the public working together,” stated Chief Superintendent John Tod, OPP Investigation and Support Bureau. “If you come across phony money, contact your local police service.”
Business owners are advised to have their staff be extra careful during “rush hour” periods, because that is when most counterfeiters will try to pass off their bogus bills.
Staff should be alert also when a customer tries to use a much larger denomination bill than is necessary to pay for an item or order.
If a counterfeit bill is suspected, contact police right away. Get a receipt for the bill for later return if it proves to be genuine.
Contact police or a local bank branch or go online to the Bank of Canada website for information on how to spot counterfeit currency.
Present Canadian currency security measures, which use high-tech hidden markers and a plasticized paper, make it almost impossible to create a fake that can pass a close physical examination.