Counterfeit banknotes in circulation
By thecanadiannumismatist | Wednesday, August 18, 2021
According to the following statistics, the launch of polymer banknotes in 2011 stopped several people from issuing counterfeit banknotes. In 2014, 552,968 fraudulent notes were issued compared to less than 35,000 (~6.5%) in 2019. Because less banknotes were circulating in 2020 due to the COVID situation, the numbers are even lower.
The National Anti-Counterfeiting Bureau, part of the RCMP, conducts forensic examinations of Canadian and foreign banknotes and coins to identify counterfeits. Counterfeiting in Canada includes not only the manufacture of false bank notes, but also forged credit cards, traveller's cheques, passports, and various identity documents.
All financial loss is traced back to the consumer who must pay higher prices as a result of counterfeiting. Technological advances in the printing process allow counterfeiters to improve their product and RCMP tasks more demanding.
Number of counterfeit banknotes passed in circulation
| $5 | $10 | $20 | $50 | $100 | $1,000 | Total | |
|---|---|---|---|---|---|---|---|
| 1998 | 2,029 | 31,401 | 43,874 | 17,329 | 26,918 | n/a | 121,551 |
| 1999 | 4,448 | 22,216 | 24,887 | 18,180 | 24,798 | n/a | 94,529 |
| 2000 | 4,673 | 28,968 | 23,674 | 18,274 | 18,544 | n/a | 94,133 |
| 2001 | 5,306 | 40,791 | 30,839 | 5,275 | 46,649 | n/a | 128,860 |
| 2002 | 14,783 | 108,969 | 55,102 | 7,295 | 22,308 | n/a | 208,457 |
| 2003 | 18,800 | 158,998 | 161,575 | 52,660 | 51,225 | n/a | 443,258 |
| 2004 | 13,932 | 123,400 | 360,160 | 22,052 | 33,424 | n/a | 552,968 |
| 2005 | 13,202 | 164,982 | 166,103 | 28,940 | 29,068 | n/a | 402,295 |
| 2006 | n/a | n/a | n/a | n/a | n/a | n/a | 287,088 |
| 2007 | 16,382 | 13,791 | 94,045 | 10,263 | 7,003 | 17 | 141,502 |
| 2008 | 5,332 | 8,444 | 38,425 | 8,483 | 46,982 | 2 | 107,689 |
| 2009 | 2,894 | 8,342 | 24,762 | 5,653 | 25,030 | 5 | 66,686 |
| 2010 | 2,384 | 6,080 | 22,435 | 3,792 | 18,834 | 5 | 53,536 |
| 2011 | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
| 2012 | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
| 2013 | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
| 2014 | 666 | 1,441 | 44,389 | 1,207 | 14,663 | 6 | 62,418 |
| 2015 | 1,653 | 984 | 8,707 | 1,092 | 3,984 | 14 | 16,445 |
| 2016 | 789 | 1,470 | 6,341 | 2,820 | 6,074 | 8 | 17,504 |
| 2017 | 1,667 | 1,127 | 6,345 | 5,792 | 7,858 | 3 | 22,794 |
| 2018 | 3,355 | 1,561 | 9,029 | 5,777 | 13,685 | 24 | 33,437 |
| 2019 | 3,354 | 1,497 | 12,780 | 5,902 | 10,172 | 16 | 33,732 |
| 2020 | 2,251 | 986 | 4,788 | 5,434 | 5,483 | 15 | 18,965 |
Statistics by Royal Canadian Mounted Police
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