Large counterfeit currency factory busted in Richmond apartment

VANCOUVER, BC – One of the biggest counterfeit currency factories in the history of British Columbia was busted last week.

Police of the Federal Commercial Crime Section raided a Richmond apartment where they arrested four men and seized sheets of uncut, fake $100 Canadian Journey Series Bank bills, blank credit cards, computers and equipment used to produce counterfeit banknotes and credit cards.

“This seizure is a particular success because the RCMP took enforcement action prior to any of the counterfeit currency reaching circulation preventing the proceeds from being used to fund other criminal activity, said Inspector Ian Lawson, Operations Officer at the Federal Commercial Crime Section.

“By passing this fake money to retailers and consumers, the criminals are stealing from businesses and individuals and leaving all legitimate consumers responsible for the cost,” Lawson said.

The four arrested men, all in their early twenties, are to be charged with making and possessing counterfeit banknotes and possessing the instruments for making counterfeit banknotes.

Canada’s Polymer $100 note came into circulation on November 14th. Its new security feaures designed to make future counterfeiting more difficult include a metallic portrait, transparent text, metallic holographic building, hidden numbers, frosted maple leaf window and raised ink.

The Bank of Canada is set to release a new Polymer $50 note in March 2012.

The Bank of Canada advises retailers and the general public to check their bank notes for fake bills. Training materials on counterfeit detection can be obtained by calling the Bank of Canada’s toll-free number at 1-888-513-8212. They can also be downloaded from the Bank’s website at www.bankofcanada.ca/en/banknotes.

Copyright 2009-2014, Vancouverite News Service.

Posted by on Dec 19 2011. Filed under B.C., More News, Top Stories. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

Leave a Reply