Printers, Scanners Aid Canadian Counterfeiters

Dom · Jul 10, 2003, 01:47 PM

OTTAWA (Reuters) - Crooks are using the latest digital printers to make fake Canadian banknotes, focusing on a new range of low-denomination notes that were supposed to be tougher than ever to copy, police and experts say.

Central bank figures show that the number of fake five and 10 Canadian dollar bills seized by banks and police nearly tripled in 2002 from 2001 -- when Canada issued new notes with high-tech security features like embossed words and iridescent maple leaves that change colors as the notes are tilted.

"This is a case of some high school kids with a computer programmed to print out fives and tens," said Tom Naylor, a specialist in the economics of crime at McGill University.

The number of bogus bills detected last year -- 208,457 -- is tiny compared to the 1.08 billion legitimate bills in circulation. But the cottage industry manner in which they are made has attracted attention.

"More criminals of opportunity have taken advantage of available technology and people receiving currency are not taking the time to verify that currency when they receive it," said Royal Canadian Mounted Police spokesman Paul Marsh.

Patricia Segre, from the Bank of Canada, said many retailers do not know what to look for on the new banknotes to distinguish them from false ones, and she said the bank offers free seminars to show businesses the new security features.

"The new series were printed in 2001 and counterfeit rates tend to rise when a new series is issued," she said. "Printing technology is more accessible and more fine-tuned and we've noticed it is used more widely than in the past."

She added: "The public doesn't tend to scrutinize small bills because they are smaller denominations that are circulating in large numbers."

A study commissioned by Canada's justice department last October found the spread of computer scanners, color printers and color copiers has transformed counterfeiting into a cottage industry from a capital intensive enterprise masterminded by organized crime,

"More instances of counterfeiting are the work of amateurs who print small sums using easy-to-access technology and directly distribute them into retail trade," the study said. "There is even a computer paper commercially available that simulates the look and feel of the real stuff."

The Bank of Canada's annual report estimated that the face value of counterfeit banknotes fell to C$5 million ($3.7 million) last year from C$6 million in 2001 after a counterfeit ring faking C$100 notes was caught in July 2001.

Some retailers have simply refused to accept banknotes bigger than C$20, or about $15.

Marsh said the use of new digital print technologies has shifted the Mounties' focus as it tries to detect forgeries.

He said a classic example turned up last weekend when a pizza delivery man accepted a fake C$20 bill that featured six naked men with their hands in the air under the caption: "How to get women to save money."

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Source: Y!News

MSX · Jul 10, 2003, 07:27 PM

Businesses are busy. Its hard to put the "checking" bills in their hands. Perhaps pizza carriers should sport blacklight wrist watches? Not going to happen anytime soon...

Jul 10, 2003, 01:47 PM	#1
Dom DriverHeaven Extreme Member Join Date: Jun 2002 Posts: 12,940 Rep Power: 0	Printers, Scanners Aid Canadian Counterfeiters OTTAWA (Reuters) - Crooks are using the latest digital printers to make fake Canadian banknotes, focusing on a new range of low-denomination notes that were supposed to be tougher than ever to copy, police and experts say. Central bank figures show that the number of fake five and 10 Canadian dollar bills seized by banks and police nearly tripled in 2002 from 2001 -- when Canada issued new notes with high-tech security features like embossed words and iridescent maple leaves that change colors as the notes are tilted. "This is a case of some high school kids with a computer programmed to print out fives and tens," said Tom Naylor, a specialist in the economics of crime at McGill University. The number of bogus bills detected last year -- 208,457 -- is tiny compared to the 1.08 billion legitimate bills in circulation. But the cottage industry manner in which they are made has attracted attention. "More criminals of opportunity have taken advantage of available technology and people receiving currency are not taking the time to verify that currency when they receive it," said Royal Canadian Mounted Police spokesman Paul Marsh. Patricia Segre, from the Bank of Canada, said many retailers do not know what to look for on the new banknotes to distinguish them from false ones, and she said the bank offers free seminars to show businesses the new security features. "The new series were printed in 2001 and counterfeit rates tend to rise when a new series is issued," she said. "Printing technology is more accessible and more fine-tuned and we've noticed it is used more widely than in the past." She added: "The public doesn't tend to scrutinize small bills because they are smaller denominations that are circulating in large numbers." A study commissioned by Canada's justice department last October found the spread of computer scanners, color printers and color copiers has transformed counterfeiting into a cottage industry from a capital intensive enterprise masterminded by organized crime, "More instances of counterfeiting are the work of amateurs who print small sums using easy-to-access technology and directly distribute them into retail trade," the study said. "There is even a computer paper commercially available that simulates the look and feel of the real stuff." The Bank of Canada's annual report estimated that the face value of counterfeit banknotes fell to C$5 million ($3.7 million) last year from C$6 million in 2001 after a counterfeit ring faking C$100 notes was caught in July 2001. Some retailers have simply refused to accept banknotes bigger than C$20, or about $15. Marsh said the use of new digital print technologies has shifted the Mounties' focus as it tries to detect forgeries. He said a classic example turned up last weekend when a pizza delivery man accepted a fake C$20 bill that featured six naked men with their hands in the air under the caption: "How to get women to save money." ____________________ Source: Y!News

Jul 10, 2003, 07:27 PM	#2
MSX Burning the frozen... Join Date: Sep 2002 Posts: 1,201 Rep Power: 0	Businesses are busy. Its hard to put the "checking" bills in their hands. Perhaps pizza carriers should sport blacklight wrist watches? Not going to happen anytime soon...