Canadians are being warned to watch out for $5 bills cunningly held together by strips of tape and foil, in what police are calling a “splice and tape” trend among counterfeiters.
The sticky-tape switcheroo is affecting Canada’s new $5 polymer bills, which have been touted as harder to counterfeit than the old paper banknotes. Police say counterfeiters are removing the clear panel near the side of the bill, which also contains two shiny, embedded holographic strips. The clear plastic is being replaced with tape, and tinfoil is being used as a substitute for the holograms.
Investigators suspect the real $5 panels are being repurposed to create higher-denomination counterfeits, while the cobbled-together $5 bills are being put back into circulation. The result is two Frankenstein-like sets of bills, with each containing elements of real and fake banknotes.Holograms on the $5 bill show Sir Wilfrid Laurier’s portrait at the top of the clear panel, and the Mackenzie Tower, which constitutes the West Block of Parliament, at the bottom. Tiny fives are written across the front and back of the panel.Other bills depict Sir John A. Macdonald ($10), Queen Elizabeth II ($20), William Lyon Mackenzie King ($50) and Sir Robert Borden ($100) in their holograms, along with various structures from Parliament Hill along the bottom.
He added that there are “some elements” of organized crime involved in the counterfeiting.
An estimated $75 billion worth of banknotes are currently in circulation. The most commonly-duped bills are the $20 and $100 denominations.
It is easy to get fooled so first of all pay more attention to Canadian bills because it will then make it easier to know if you get handed a fake bill. – CINEWS