Counterfeiting rate ‘extremely low’ for Canadian polymer notes
New series is subject to a counterfeiting rate of just 0.56 parts per million
The counterfeiting rate on polymer banknotes in Canada is just 0.56 parts per million (ppm), according to the central bank's latest annual report, published last week.
The Bank of Canada aims to restrict counterfeits to a level below 30ppm. Polymer banknotes now make up 75% of the notes in circulation in Canada, and are outperforming this target by a considerable margin.
Governor Stephen Poloz acknowledged their "extremely low" counterfeiting rate in his message at the beginning of the report
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