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Topic: Notable Numbers - Counterfeit Canadian Money  (Read 2696 times)
coinsplus
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« on: August 25, 2006, 02:49:02 pm »

In today's edition of the Vancouver Sun (Friday, August 25th), they talk about the RCMP cracked one of Western Canada's worst counterfeit rings.  Interesting article.

They also go on to write: In 2004, nearly $13 million worth of Canadian banknotes were detected by banks after spending sometime in circulation.  In 2005, more than $700,000 worth were seized before they could be used fraudulently.  Value of fake bills by denomination:
$20 - $7.2 million worth of fakes;
$100 - $3.3 million;
$10 - $1.2 million;
$50 - $1.1 million;
$5 - $69,660;
$1,000 - $12,000.  <--- 12 fake $1,000 ntoes:  This surprise me... who would do that?  

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Oli1001
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« Reply #1 on: August 25, 2006, 03:25:07 pm »

I suspect that there is much more then 12 counterfeit 1000s that were printed. My guess is drug dealers print them in order to rip of other drug dealers. If you slip a few fake 1000s in a bundle of 300 X $1000 notes they may not notice. That is why these fakes do not get reported either, a drug dealer cannot turn it in and say that he got ripped off. They simply absorb it as a loss and learn from their mistakes.
 

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