‘High-quality’ counterfeit money circulating in B.C., police warn

An undated police image of a potentially counterfeit $50 bill. (North Bay Police Service/Facebook)

Police in Nanaimo, B.C., are warning the public about a surge in counterfeit currency in the community, with investigators reporting more than a dozen cases of customers using “high-quality” fake $50 and $100 bills in recent weeks.

The Nanaimo RCMP says the fake currency is made of a polymer plastic that’s similar to genuine Canadian bills. The counterfeits also include a holographic sticker and a holographic stripe on one side.

However, all of the counterfeit bills have identical serial numbers, and the holographic stripe can actually be peeled off, the RCMP said in a news release Thursday.

Investigators have received at least 17 separate complaints about the fake bills in the past two months, the Nanaimo RCMP said.

“It’s an offence to knowingly use or possess counterfeit money,” Const. Alexa Blacklock said in a statement Thursday. “And if you unknowingly accept counterfeit cash as legal tender, you can’t be reimbursed; you’re on the hook for the loss.”

The warning comes after police in other Vancouver Island communities, including Saanich, Sooke and Sidney, warned of increasing instances of fake bills circulating among local businesses.

• Suspects sought as police warn of counterfeit bills on Vancouver Island

Business owners and employees are encouraged to check bank notes to ensure their legality. “Being familiar with the security features of genuine bank notes will help you spot counterfeits at a glance, protecting yourself from fraud,” Blacklock added.

The Bank of Canada maintains a checklist to help people spot fraudulent bills in the community.

The central bank says some features of a legitimate bill—including numbers, words and portraits—should feel slightly raised to the touch while the rest of the bill feels like a smooth, single piece of polymer.

The numbers in and around the transparent portion of the bill should also match the value of the note. When tilted, the colours in the metallic portrait and in other holographic features should change on both the front and back, the bank advised.