With the busy holiday season upon us, retail locations across Quebec are experiencing a massive uptick in counterfeit bills. This increase happens in the weeks before Christmas, a period when shopping activity is booming. As the president of the Retail Council of Canada’s Quebec division, Michel Rochette encourages consumers and merchants alike to remain on the lookout for phony bills.
The Quebec provincial police have taken steps to alert the public by placing posters warning about the growing threat of counterfeit bills. This proactive measure is designed to raise awareness among shoppers and business owners. Counterfeiters increase their efforts during the high-traffic holiday season. With stores overflowing with customers, it’s impossible to catch counterfeit bills.
“Unfortunately, it’s a great time to issue counterfeit bills because stores are very busy. It’s the most important time of the year,” Rochette stated. At the same time, he said, counterfeit techniques are advanced a lot. This change means that even trained professionals are having more difficulty identifying counterfeit currency.
The Retain Council of Canada reported some alarming numbers. In just one month, they found more counterfeit bills than was found in the whole last year combined. This trend is not only alarming to retailers, but consumers should not have to worry about unwittingly accepting fake currency.
Rochette reiterated the harmful impact of fake bills. He noted that businesses are losing a mind-boggling $9 billion annually from theft and fraud. He praised all of the recent measures adopted by the federal government, inclusive of measures recently announced. He specifically commended the Carney government for providing the RCMP with new powers to combat organized crime in the retail sector.
“The RCMP will have more powers to fight organized crime in the retail industry,” Rochette said, expressing his approval of these developments. At the same time, he made clear that more resources are necessary. “We are asking the federal and provincial governments to show some teeth,” he remarked, calling for enhanced support for police forces to investigate and maintain a presence on the ground.
This is a growing liability for retailers as counterfeit bills are on the rise. This concern gets all the more pronounced as we enter the critical shipping season. Rochette concluded with a reminder of the importance of public awareness: “It reminds us how important it is to inform and educate as many merchants as possible.”
