RCMP see spike in use of counterfeit money

RCMP are advising businesses throughout the Interior that several areas have recently experienced a spike in counterfeit money.

  • Wed Aug 15th, 2012 1:00pm
  • News

The RCMP are advising businesses throughout the Interior  that several areas have recently experienced a spike in counterfeit money.

Since July 26, police have received 23 complaints where counterfeit currency was either passed or attempted to be passed in the communities of Oliver, Osoyoos, Okanagan Falls, Penticton, West Kelowna, Lake Country, Salmon Arm and Kamloops.

These incidents involve Canadian bank notes in the $20, $50 and $100 denominations from the Canadian Journey Series, 2001 to 2006.

The public, merchants and businesses should check the security features of the bank note before accepting it. The security features to check are:

• the watermark or ghost image,

• the security thread,

• the overall print quality,

• the metallic or holographic strip and,

• the puzzle number or see-through number.

“The typical modus operandi is for the passer to make an inexpensive purchase and pay with a large denomination, in turn receiving a large percentage of change back in authentic currency, leaving the bogus bill in the till. Feel, look and flip the bank note to check the security features,” states Cpl. Dan Moskaluk.

For more information on counterfeiting prevention go to the Bank of Canada website at www.bankofcanada.ca/banknotes/counterfeit-prevention.