Police services across the Greater Toronto Area are warning residents and businesses to be vigilant as counterfeit cash continues to circulate, particularly higher-denomination bills.
Halton Regional Police say fake $20, $50 and $100 banknotes have been reported in recent weeks, with the counterfeit bills being used in both retail transactions and cash deals arranged through online marketplaces.
One Mississauga business says it recently fell victim to the scam.
Trailers Ontario, which operates four locations across the province, told CTV News it lost $6,200 after a customer used counterfeit cash to purchase a trailer at its Mississauga location. The total purchase price was just over $12,000, with roughly half of the payment later discovered to be fake.
“It was first thing Monday morning when I found out the cash was counterfeit,” said Nadir Virjee, owner of Trailers Ontario. “The customer came in last week and purchased a trailer for $12,204. He slipped in $6,200 in counterfeit money.”
Virjee contacted Peel Regional Police to file a report but said he was told the matter may be considered civil rather than criminal, since part of the payment was legitimate.
Frustrated by the loss, Virjee said his company is now taking additional steps to protect itself from future scams.
“We’ve purchased money counters for all our locations and told our staff to double-check every bill,” he said. “We’re just trying to do more due diligence.”
Toronto Police Service confirms counterfeit currency complaints are increasing. Detective David Coffey of the Financial Crimes Unit told CTV News officers have already seized nearly $50,000 in fake bills since the beginning of 2026.
“Counterfeit currency does seem to be on the rise right now, especially larger denominations like the $100 bills,” Coffey said.
Police are advising the public to avoid large cash transactions whenever possible. If cash must be used, authorities recommend completing the transaction at a financial institution and refusing any bills that appear suspicious. Attempting to pass counterfeit currency is a criminal offence.
The Bank of Canada also offers guidance on how to spot fake money, recommending three simple steps: feel the note for its smooth, unique texture; look for the metallic portrait in the transparent window; and flip the bill to ensure the metallic image matches the main portrait.
Virjee said he may need to pursue small claims court to recover the loss but hopes his experience serves as a warning to others.
Banks will not reimburse customers for counterfeit cash. Instead, any fake bills presented will be confiscated to remove them from circulation.
Below is a link to the Bank of Canada page on Counterfeit Prevention:
https://www.bankofcanada.ca/banknotes/counterfeit-prevention