As Lunar New Year approaches, businesses gear up for a surge of customers celebrating the festive season. However, amidst the excitement, there is a growing concern over counterfeit cash making its way into circulation. To combat this issue, some restaurants are taking proactive measures by training their staff on how to detect fake bills.
Kelvin Chung, owner of Dim Sum King Seafood restaurant in Chinatown, shared his experience of encountering counterfeit currency a couple of years ago. Following incidents where customers paid with fake $100 and $20 bills, Chung instructed his staff to be vigilant and watch out for counterfeit money.
Chairman of the Chinatown BIA, Tonny Louie, noted that while businesses haven’t reported a significant influx of fake banknotes yet this year, there is a heightened awareness as the festival draws near. Louie emphasized the challenge of identifying sophisticated counterfeit bills that closely resemble genuine currency, urging businesses to be cautious without inconveniencing customers.
Detective David Coffey from the Toronto Police Service’s Financial Crime Unit highlighted the risks associated with accepting counterfeit cash, with criminals duping businesses for thousands of dollars before the deception is discovered. In 2025, approximately $90,000 in counterfeit money was reported to Toronto police, and within the first 35 days of 2026, $80,000 in fake currency has already been reported.
Businesses such as variety stores, grocery outlets, and online sellers are common targets for counterfeit money scams, especially during busy periods when transactions are rushed. Detectives advise taking a moment to scrutinize the quality of banknotes for signs of forgery, as rushing through transactions can leave businesses vulnerable to fraudulent activities.
Amidst the warnings and precautions, consumers are encouraged to stay vigilant and be mindful of the authenticity of banknotes they receive. Last month, York Regional Police issued a cautionary alert to businesses following the arrest of an individual for using counterfeit $100 bills at multiple establishments in East Gwillimbury.
Keyphrase: counterfeit cash detection