Spike in Counterfeit Currency Leads to Warning

Tuesday, November 15, 2016

Victoria, BC VicPD Financial Crime detectives are issuing a warning to businesses after a spike in American counterfeit currency within our community.

Since November 1st, VicPD has dealt with 24 separate counterfeit currency files. All, except one, were United States bills – the  majority being counterfeit $20 bills with some $50 denominations being used as well.

Although these files are currently under investigation, investigators have noted that the majority of the counterfeit notes were passed at “cash-based” businesses such as convenience stores, fast food restaurants and gas stations. 

Investigators believe that there is a very close correlation between the street-level drug trade and the distribution of the counterfeit currency. “It does not take much to produce somewhat realistic-looking counterfeit notes,” said Det. Sgt Derek Tolmie.  “All you need is a computer, color printer and a little bit of knowledge.”

If you are a business owner or operator, it is important to know the signs of a counterfeit bill. Please visit http://www.bankofcanada.ca/banknotes/counterfeit-prevention/ for more information.

If you have information on who may be producing these counterfeit bills, please call our non-emergency line at (250) 995-7654. To report what you know anonymously, please call Greater Victoria Crime Stoppers at 1-800-222-8477.

 

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