Nanaimo RCMP are warning residents and businesses about an increase in counterfeit $50 and $100 Canadian bank notes circulating throughout the city.
Police say that over the past two months, officers have received at least 17 separate reports of high-quality counterfeit bills being used at various local businesses.
According to investigators, the seized counterfeit notes share several concerning similarities.
All of the bills have identical serial numbers and are made from a plastic material similar to that used in genuine Canadian currency.
The notes also include a holographic sticker designed to imitate embedded security features found on real bank notes. However, police note that the holographic stripe on one side of the counterfeit bills can be peeled off.
“In Canada, it’s an offence to knowingly use or possess counterfeit money,” said Cst. Alexa Blacklock of the Nanaimo RCMP.
“And if you unknowingly accept counterfeit cash as legal tender, you can’t be reimbursed; you’re on the hook for the loss. Being familiar with the security features of genuine bank notes will help you spot counterfeits at a glance, protecting yourself from fraud.”
Businesses that accept cash are being encouraged to carefully inspect bank notes before completing transactions to ensure they are legitimate.
Information on how to verify a bank note’s security features is available through the Bank of Canada.
Anyone with information related to counterfeit currency in Nanaimo, or who wishes to report a crime, is asked to contact the Nanaimo RCMP non-emergency line at (250) 754-2345.
