The RCMP have already found counterfeit $100 bills. Be safe rather than sorry and check all your bills. [Here’s how.]
So reports Josephine Lim (www.theloop.ca) in edited excerpts from her original article* entitled How to identify a fake $100 bill.
[The following article is presented by Lorimer Wilson, editor of www.FinancialArticleSummariesToday.com and www.munKNEE.com and may have been edited ([ ]), abridged (…) and/or reformatted (some sub-titles and bold/italics emphases) for the sake of clarity and brevity to ensure a fast and easy read. This paragraph must be included in any article re-posting to avoid copyright infringement.]
Lim goes on to say in further edited excerpts:
Canada’s overhaul of its paper currency may prove to be futile with the RCMP already discovering fake $100 bills in British Columbia. [Watch this video.]
A man used two fake $100 bills with the same serial number at a local grocery store in New Westminster, B.C. While another man tried to deposit fake $100 bills at a bank. The issues with the fake bills were that they were missing:
- raised ink,
- the Canadian flag on top of the building in the holographic image and
- reflective 100s near the missing flag on the holographic image.
With money, it’s no surprise that people are trying to create fake versions.
The Bank of Canada put new bills in circulation to counter its counterfeit problem. Canada’s counterfeit ratio in 1990 was four parts per million (PPM), but by 2004 the counterfeit rate jumped to 470 PPM. Most developed countries use 50 PPM as a benchmark indicator. Since the notes were revealed, ex-Bank of Canada governor Mark Carney says counterfeiting rates dropped by 92 per cent from 2004.
Better safe than sorry, right? Whenever you’re receiving a bill…make sure to check whether it’s fake or not. If you think it’s fake, don’t accept the bill and ask for another one. Check that one too. You should suggest the person bring the suspected counterfeit bills to the police and let the police know about the issue.
Here are some indicators to watch out for to help you figure out whether your bill is fake or not [also watch this video put out by the Bank of Canada]:
- Raised ink: You should be able to feel areas that are bumpy on the bill. It should be raised on the large number, the shoulder of the portrait and near the words of the “Bank of Canada”.
- Large window: There should be a transparent section on the bill that has the image of a metallic building and a portrait.
- Metallic portrait: The metallic portrait in the large window should have details matching the larger portrait.
- Metallic building: When you tilt the note, you should see a change in colour on the metallic building in the large window.
- Small numbers: There should be small numbers of the bill’s amount in the transparent section of the bill. Some of the numbers should be in reverse.
- Transparent text: On the transparent section, you should be able to see “Canada” written in transparent text. It should also feel raised.
- Maple Leaf border: There should be a border of maple leaves that surround the transparent window. Some of the border will cross over onto the window.
- Frosted maple leaf window: There should be a shaded maple leaf on the bill that’s surrounded by a transparent border.
- Hidden numbers: There are hidden numbers within the maple leaf. Hold the bill up to an incandescent light bulb or small desk lamp to see them.
Make sure you check your bills before accepting them because:
if you should accept a counterfeit bill and bring it to the attention of the police, you won’t be reimbursed and
if you knowingly use a counterfeit bill [i.e. pass it on to some other unsuspecting person] you’ll get into trouble with the law.
[Editor’s Note: The author’s views and conclusions in the above article are unaltered and no personal comments have been included to maintain the integrity of the original post. Furthermore, the views, conclusions and any recommendations offered in this article are not to be construed as an endorsement of such by the editor.]
*http://www.theloop.ca/living/money/article/-/a/2428567/How-to-identify-a-fake-bill (© Bell Media 2013 All rights reserved)
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