John Bowman, CBC News Online | August 2001
COPYRIGHT© CBC 2002
ALL RIGHTS RESERVED

Many stores in Southern Ontario are no longer accepting $100 bills and some are even refusing $50 bills. The stores say there are too many counterfeit bills in circulation to risk taking the larger denominations.

The Bank of Canada says that stores can't be compelled to accept Canadian currency under the law. While the Bank of Canada Act gives it the sole right to print money, the Bank of Canada has no authority over how their notes are used to settle debts, says Joe Basile of the bank's currency education team.

The forgeries can be very accurate, the Bank of Canada admits. Store owners say that the forgeries pass the ultra-violet (UV) light test used to find counterfeit bills.

However, the forgeries don't look completely authentic. The metallic patch in the upper-left corner, for example, may be gold in a forged bill, while the patch on the authentic bill changes colour from gold to green when tilted.

The ink on a fake bill may run if you put water on it. As well, the detail in an authentic bill, such as the fine lines in the eyes of the portrait, may not be duplicated perfectly in a forgery.

Security features
The current series of $100 bills have many security features designed to foil counterfeiters.

1. The metallic patch changes from green to gold when tilted. It cannot be peeled off.

2. Green dots appear randomly on each bill. They glow under UV light and can be scratched off.

3. The fine detail in the eyes and hair can't be easily duplicated.

4. The texture of the raised ink can be felt with your fingers.

5. The words "Bank of Canada" appear in microprinting in various places on the bill.

6. The special bank note paper does not glow under UV light.

7. The colours used in the bill are difficult to reproduce.

8. Each bill has a unique serial number on the reverse side. A batch of fake bills may all have the same serial number.

The latest series of bills, of which only the $10 bill has been released, has some new security features. The Bank of Canada says new $50 and $100 bills are being released last to allow more time to develop more sophisticated anti-counterfeit devices.

1. A glowing blue Canadian coat of arms and red security fibres appear when viewed under UV light.

2. A hidden number 10 can be seen here when the bill is viewed along its edge.

3. The golden maple leaves shimmer when the bill is tilted.

COPYRIGHT© CBC 2002
ALL RIGHTS RESERVED

Currently there are $3.7 million
in counterfeit bills in circulation...

What is your company doing to prevent this?

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to prevent the acceptance of counterfeit currency.