The technology boom of the 1990s brought with it a marked increase in counterfeiting in Canada. By the middle of the decade in addition to well-financed crime operations that possessed a great deal of technical expertise, a new class of technically advanced amateur counterfeiters emerged.

To stay ahead of the counterfeiters, the Bank of Canada issued a new series of bank notes between 2000 and 2006. These notes have the latest security features and have significantly decreased casual counterfeiting. Organized crime remains a threat.

Counterfeit money is fraud, plain and simple. All bank notes have security features that are quick and easy to use to verify that your money is genuine, but advanced security features are only effective if they are used to regularly check their bills.

Counterfeit bills do not have to be excellent quality to be passed successfully. The reality is that counterfeiters rely on people not to check their money and produce what is minimally required as passable bills.

The vast majority of counterfeit bills are not the $50 and $100 bills people think of; they are $10s and $20s because counterfeiters count on them not being checked, thus making them easier to pass. Chances are if a business posts a sign saying no $50 or $100 bills will be accepted, they do not have a practice in place to check for counterfeit and they will be at higher risk to receive the counterfeit money.

So if a cashier checks your money, don’t be offended. Think of it like verifying a credit card signature or waiting for the electronic authorization for a debit card payment. It is just normal business practice.

The few seconds it takes to check a bill protects Canadians against financial loss and other criminal activities funded by counterfeiting profits.