You could be victim to a new counterfeiting scam that involves the $5 bills. Better check your wallet.
Canadians are being warned to watch out for $5 bills held together by strips of tape and foil, in what police are calling a “splice and tape” trend among counterfeiters.
The sticky-tape switcheroo is affecting the $5 polymer bills. Police say counterfeiters are removing the clear panel near the side of the bill, which also contains two shiny, embedded holographic strips. The clear plastic is being replaced with tape, and tinfoil is being used as a substitute for the holograms.
Investigators suspect the real $5 panels are being re-purposed to create higher-denomination counterfeits, while the cobbled-together $5 bills are being put back into circulation. The result is two Frankenstein-like sets of bills, with each containing elements of real and fake banknotes.