Blogs & Comment

Spotting counterfeit money

March is Fraud Prevention Monthand the Bank of Canada is telling Canadians how to spot counterfeit money. I was rather amazed to discover how many security features are embedded on paper currency. The $20 bill has at least six.
The TiLL mnemonic is recommended for remembering the features that should be checked:
Touch (the raised ink on the Queens portrait and bills number) T ilt (to see the 2 vertical holographic stripes change colors) Look through (bill against light to see ghost image & puzzle number) Look at (the appearance and action of each security feature)
The Bank has organized presentations in public libraries, disseminated a guide called Check to Protect, and put educational material on its website. The best way to learn about the security features is via the interactive graphic on their website. Just roll your cursor over the numbers to get explanations. You see what you need to know in a glance or two.
Other security features exist such as microprinting and fine lines. And retailers, of course, look at the bill under UV light to see if the bills number, text such as Bank of Canada, and scrambled fibers appear in glowing red and yellow. Security features can also vary by type of bill.
There are no refunds if you get stuck with bogus bills. And the profits from counterfeiting often fund criminal activities. So it pays to regularly check the cash you receive from others.