Local RCMP are repeating its call for business to be consistent in checking for counterfeit money.
In a release sent out Aug. 9, the Ponoka RCMP detachment explained that despite a warning issued just last month, there are businesses in town still accepting cash and not giving the bills a closer examination.
“Preventing currency counterfeiting requires a cooperative approach. You can help safeguard Canada’s national currency by becoming more familiar with bank note security features,” stated the release.
“Report instances of counterfeit currency to your local law enforcement agency. We must all work together to deter this crime.”
Police point out that, especially with higher denominations, that anyone receiving bills pay close attention to the security features. These include the silver strip on $5, $20, $50 and $100 bills.
“This is a super easy thing to notice. The bills we have here seem to be very poor quality,” added the release.
The release noted there are a few steps for businesses to keep in mind if someone believes a bill is fake.
First is that the person handling the cash ensure their own safety is paramount and to remember that counterfeit bills are most often passed during periods they are busy.
Next is for cashiers to pay more attention to customers who pay with bills that far exceed the amount necessary and, if possible, keep potentially suspicious bills separate and make a record of the all relevant information including the amount of the bill, the serial number and any description of the person who handed over the bill.
Lastly, contact the nearest police detachment as soon as possible so they can come get the suspicious bill and don’t forget to get a receipt for it. If the note is real, it will be returned.
“Just remember, someone passing a counterfeit bank note may not be aware of it. He or she could be the innocent victim of a crime,” the release stated.
Money facts
The Bank of Canada is the only institution legally authorized to issue Canadian bank notes and there are about $75 billion in bills circulating.
The most frequent used notes are the $20 and $100 bills while cash also remains the preferred payment for transactions under $25.
Large scale counterfeit currency activity in Canada is usually facilitated by organized crime groups and that possession, use or creation of counterfeit currency is an indictable offence punishable by up to 14 years in prison.