Top 5 Myths About Counterfeit Money 

FROM: MAY-JUN 2009 ISSUE

All bank notes have security features to verify that your money is genuine. The Bank of Canada advises Canadian businesses to think of verifying bills as the authorization process for cash transactions. Here are the top five myths about counterfeit money:

1. Checking notes will slow down retail checkout lines.
2. Counterfeit bills have to be of excellent quality to be passed successfully.
3. Refusing $50 and $100 notes is the best way to avoid getting stuck with a counterfeit bill.
4. Applying water, rubbing, and folding bank notes are ways to detect counterfeit bills.
5. An ultraviolet light device is all that is needed to detect counterfeits.

Source – Bank of Canada