The Campbell River RCMP and other RCMP detachments are investigating an increase in the passing of counterfeit currency in Central Island communities.
Since Jan. 1, 23 reports of counterfeit currency being passed have been reported to the Campbell River RCMP and over 20 other reports have come in to other Central Island communities north of Nanaimo.
The predominant denominations of counterfeit currency tend to be $50 bills and $100 bills and it seems that the artists and bill passers are taking advantage of a lack of training for clerks in identifying counterfeit bills.
Modern legitimate Canadian bills:
– Made from polymer not paper
– Have even edge cuts
– Have holograms of the Prime Minister and Parliament clock tower embedded in the clear polymer
– Edges around maple leaf are transparent
Upon quick examination of the fraudulent Frontier Series $100 notes, it’s easy to see that no hologram pictures exist as it is merely tape over tin foil.
“It’s unfortunate,” said Const. Maury Tyre of the Campbell River RCMP, “because the training tools to identify counterfeit bills are readily available on the Bank of Canada website and most counterfeit bills are easily identifiable if people know what they’re looking for. With the bulk of transactions being done electronically, it seems there is less focus in most retail locales on the identification of counterfeits and it’s allowed unscrupulous characters to pass these bills at a substantial loss to retailers.”
In general, employee training can protect businesses from being taken advantage of by counterfeiters, however, aside from training to identify counterfeit bills, there are other concepts which can prevent the passing of counterfeits:
– Users trying to pass counterfeits will often buy very small amounts of goods with big bills, that way they get as much legitimate money as possible in exchange so watch out for those types of transactions;
– Set well posted store policies. Example: Due to an increase in counterfeit currency, $50 and $100 bills will only be accepted with valid identification;
– Posting signs that staff have been trained how to identify counterfeit currency let’s criminals know that there is less chance of getting away with the criminal act at your business.
If you wish to know more about counterfeit prevention, visit the Bank of Canada website or contact the Campbell River RCMP at 250-286-6221.