Every so often, a counterfeit scam will sweep an area, pervading through local businesses and compromising their profits. Counterfeiting is one of the oldest crimes in history that continues to exist today. It was a more serious problem in the 19th century, but even modern criminals are turning to counterfeiting as a way to get rich quick.
The problem is still of concern despite changes in Canadian currency design. The Canadian bank note is incredibly unique. The polymer bank notes are different than traditional paper currency and have a distinct look and feel that proves their authenticity. Although Canadian bills have several built-in security features, they are not immune to counterfeiters. To avoid accepting counterfeit cash and potentially harming your business's income, learn what to look for in fake bills.
When you give a fake bill to somebody who doesn't know what to look for, you're putting yourself at greater risk by increasing the chance of accepting that fake bill. With these tips in mind, you'll more quickly and easily recognize any incongruities and catch a counterfeiter at the point of the transaction where not everyone has a machine to detect counterfeit money.
How to Spot a Fake Bill
In lieu of a counterfeit machine, there are a few tests you can administer by hand. To spot fake bills, the Bank of Canada suggests the “touch and tilt” method. Touch the bills to feel for a raised surface, and then tilt it side to side to see if the security features are engaging. A transparent window will contain those important features. The metallic portrait on the side will match the larger one near the center and will change color when you tilt the bill and adjust your viewing angle.
Within the window, there should be small numbers that match the note value. Since the window is transparent, you should be able to clearly view the images when you flip it. The dollar amount should also be hidden in the frosted maple leaf in the corner.
Counterfeit Detection Devices
Although these security features are hard to replicate, the only way to be certain is to run the bill through a counterfeit machine or a currency recycler. Money counter machines will not only count the cash, but will reject any fake bills. If you are concerned about the status of your money, purchasing a counterfeit machine is a great cash management solution to ensure all the bills you have are real.
This way, you'll have 100% assured accuracy and validity. Don't take any chances on counterfeit bills. Consider purchasing a detector machine for your business.