Retail groups across Canada are warning businesses and shoppers to stay vigilant as a surge in high-quality counterfeit cash spreads nationwide, particularly during the busy holiday shopping season.
According to the Retail Council of Canada, fake $20, $50 and $100 bills have been detected in unprecedented numbers since November, already surpassing the total recorded over all of last year, The Canadian Press reported.
Michel Rochette, president of the Quebec division of the Retail Council, said counterfeiters have significantly improved the quality of fake bills, making them harder to spot.
“The new notes closely resemble legitimate currency, with convincing holograms and security features,” Rochette told The Canadian Press. “Even trained staff are having difficulty detecting them.”
He said the sophistication suggests the work of organized criminal networks rather than isolated fraud attempts.
The timing of the surge is also raising concerns. With stores crowded and employees under pressure to process transactions quickly in the weeks leading up to Christmas, subtle warning signs are easier to miss.
“This is the perfect time for counterfeiters,” Rochette said, noting that the high volume of cash transactions increases the likelihood that fake bills will go unnoticed.
While the full scope of the problem is still unclear, Rochette said there are strong indicators the issue is worsening. He pointed to recent warnings issued by Quebec provincial police, including posters advising the public to watch for counterfeit money.
The Retail Council is urging merchants and consumers to remain alert and to prioritize awareness and training for frontline staff to reduce losses. Rochette also called on federal and provincial governments to strengthen police resources to combat organized crime linked to counterfeiting.
“These operations are often tied to broader criminal activity and violence,” he said.
Rochette welcomed recent moves by Prime Minister Mark Carney’s government to grant expanded powers to the RCMP to target organized retail crime, calling it a positive step. However, he stressed that provinces must also boost funding and enforcement capacity.
National figures cited by The Canadian Press estimate that theft and fraud already cost Canadian businesses about $9 billion annually, highlighting the financial stakes as counterfeit cash becomes more prevalent.
Retailers are advising shoppers to check bills carefully and report any suspected counterfeit notes to store staff or police as authorities work to contain the growing threat.