LESSON 2-1 MYTHS and REALITIES © Bank of Canada 2008

MYTH or REALITY? Most counterfeit bills are $50s and $100s. 2

MYTH Counterfeit bills come in all denominations. Many counterfeiters produce fake $5s, $10s, and $20s because they expect that people won’t check them. 3

Checking for counterfeit bills slows down the checkout line. MYTH or REALITY? 4

Once you know the techniques, it takes less time to check paper money than to authorize a debit or credit card transaction. MYTH 5

Applying water, rubbing, and folding bills are not proper ways to detect counterfeits. MYTH or REALITY? 6

These are unreliable methods for checking money. They also reduce the effectiveness of the security features. REALITY 7

The raised dots in the upper right corner of each bill are not a security feature. MYTH or REALITY? 8

They are not a security feature. The dots are used by people who are visually impaired to identify a bill’s value. REALITY 9

A UV light is all I need to check money. MYTH or REALITY? 10

No special equipment is needed to check money. The Bank of Canada recommends that you check at least three security features. MYTH 11

Fake money does not have to be a good copy to pass for the real thing. MYTH or REALITY? 12

Counterfeiters usually do the minimum required to make passable money because they assume that people will not check it. REALITY 13

Counterfeiting is a victimless crime. MYTH or REALITY? 14

The last person or business holding the counterfeit bill bears the financial loss. All Canadians pay for added costs such as new security features and increased policing. MYTH 15