Is your summer job search underway? Whether you’re dreaming of a job in the sun with the local tourism office or gearing up for long days sweating it out in a busy marketplace, you may end up handling plenty of cash.
Are you ready for that? Because it’s not just about doling out the correct change. It’s about knowing your money.
Maybe you take it for granted, but the cash in your wallet is jam packed with technology to protect it against counterfeiting.
Never given counterfeiting much thought? Think a forgery, fake, phoney, funny money isn’t a big deal? It is.
Studies show that most counterfeits are passed in the retail environment. That makes cash handlers the first line of defence against counterfeiting.
Whether it’s a $5 or $100 bill, making, knowingly having, or trying to use a counterfeit is a criminal offence that is punishable by up to 14 years in jail.
Organized crime groups are often behind the production and distribution of counterfeit bills, and the profits they make from counterfeiting often fund other serious crimes in your community.
No one wants that. So do your part to stop crime. Spotting a counterfeit depends on knowing and routinely checking the security features on genuine bank notes.
Now is a really good time to learn because the Bank of Canada is in the midst of rolling out a new series of polymer notes. Maybe you’ve already heard of Canada’s switch from paper to bank notes printed on this smooth, light-weight film.
The new $100 came out last November, and the $50 was issued 26 March 2012. The $20 will be out late this year, and the $10 and $5 by the end of 2013.
So get to know Canada’s new money and add an important job-readiness skill to your resume.
Feel, Look and Flip
Feel, Look and Flip is a phrase that reminds you how to check key security features on the new $100 and $50 polymer notes.
- Feel the smooth, unique texture of the note. It’s made from a single piece of polymer with some transparent areas.
- Look for transparency through the large window and the outline of the frosted maple leaf window.
- Look at the details in the metallic portrait and building in the large window.
- Flip the note to see the metallic portrait and building repeated in the same colours and detail on the other side of the large window.
For more information including videos on polymer notes and how to check the security features of paper notes, visit www.bankofcanada.ca/banknotes.
Dealing with Suspicious Money
So once you’re hard at work in that new job, check your notes and prevent a counterfeit from ending up in your till or in a customer’s change.
And remember that anyone could have a counterfeit and not know it.
Be professional and careful not to accuse someone of trying to pass a fake.
Advise the client that you suspect the bill is counterfeit and can’t accept it. Ask for another bill and check it too. Suggest that the client take the suspect bill to local police for verification. Once they’ve left, inform your boss who will also contact police to report a possible attempt to pass a counterfeit.
These simple actions will help put counterfeiters out of business.
Used with the permission of the Bank of Canada