N.S. RCMP, border agents seize more than $100,000 in counterfeit Canadian cash

More than $100,000 of counterfeit Canadian money has been confiscated by authorities following an investigation that started in Quebec and led them to a residence in Cape Breton, according to the Royal Canadian Mounted Police (RCMP).

The Canada Border Services Agency alerted Nova Scotia RCMP after intercepting packages from China at Mirabel airport in Quebec and a processing facility in Mississauga, Ontario in January. The first package contained fake holographic stickers resembling the security strips found on Canadian currency, while the second package contained around $30,000 in counterfeit bills of various denominations, the RCMP announced in a news release.

Both packages were addressed to a location in Glace Bay, Nova Scotia. Subsequently, Mounties and Cape Breton Regional Police officers executed a search warrant at a Glace Bay residence on February 11 and discovered approximately $70,000 in fake money, as confirmed by RCMP spokesperson Cpl. Mitch Thompson in an interview with CBC News.

During the search, law enforcement officers also found several items considered tools for counterfeiting, including electronic devices, along with a rifle. The investigation is still ongoing, and charges are expected to be filed soon, Thompson added.

In light of this incident, the RCMP is urging individuals and businesses to verify the authenticity of cash they receive by inspecting the security features on the bills. Counterfeit money may not appear to be a significant problem to everyone, Thompson noted, but it can have detrimental effects on both individuals and businesses. When fake banknotes are unknowingly accepted, they cannot be reimbursed, resulting in financial losses for the recipients.

Thompson emphasized the impact on businesses, stating, “These businesses not only lose the product they are providing, but they also lose the income from that product. So, it’s a double blow for them.”

To combat counterfeit currency, the RCMP advises people to visit the Bank of Canada’s website to learn how to identify the security features of authentic banknotes. Vigilance and awareness are crucial in preventing the circulation of fake money and protecting the integrity of Canada’s currency system.