Canadian $100 banknotes are seen being counted in Toronto on Feb. 2, 2016, in this file photo taken by Graeme Roy. AP
Retailers across Canada face a sharp rise in fake banknotes, with forged $20, $50, and $100 bills spreading quickly since November. The Retail Council of Canada says stores spotted more counterfeit money in just one month than during the entire previous year.
Store owners and staff now struggle to spot the fakes, even with training. The surge has sparked concern as the busy holiday shopping season reaches its peak.
Criminals Improve Their Methods
Counterfeiters now produce bills that look almost identical to real money. Michel Rochette, president of the council’s Quebec division, says the quality has reached a troubling level.
“They are extremely credible; you can't tell them apart from the real thing. The hologram is really well done. This means that, as we have been saying for a long time, we are facing increasingly structured and organized criminals,” he says.
These improved techniques leave cashiers with little chance to catch the fakes during fast-paced sales.
Holiday Rush Creates Opportunity
Rochette says the timing of the spike does not surprise him. Stores see their highest customer traffic in the weeks before Christmas.
“Stores are very busy; it's the most important time of the year. With so many people shopping at the same time, it's more difficult to tell the difference and notice if something is wrong,” Rochette says.
Long lines, crowded counters, and rushed payments give criminals more chances to pass fake bills without notice.
Police Issue Warnings
Authorities have started to respond as reports climb. In Quebec, the Sûreté du Québec has placed warning posters in public areas to alert shoppers and businesses.
Rochette says no one knows the full size of the problem yet.
“Obviously, it's not easy to quantify. But there really is an explosion of counterfeit bills, to the point where even the Quebec provincial police has put up posters in certain places warning people to be careful,” he says.
Calls for Stronger Action
Rochette urges shoppers and store workers to check cash carefully and report anything suspicious. He also calls on political leaders to strengthen police efforts.
"We are asking the federal and provincial governments to show some teeth," Rochette said. "There is a real obligation to take this issue extremely seriously because anything that is left unaddressed will only get worse."
He welcomed the current federal government’s move to grant new powers to the Royal Canadian Mounted Police to fight organized retail crime.
“This will give us a helping hand. Now, at the provincial level and in Quebec, it is absolutely essential that the government give police forces more resources to investigate and be on the ground.”
A Costly Crime Problem
Recent national figures show theft and fraud cost Canadian businesses about $9 billion each year. Retailers fear counterfeit cash will push losses even higher if authorities do not act quickly.
