Ontario Police Warn of Fake Cash Scams Targeting Businesses

Police in the Greater Toronto Area are warning residents to keep an eye out for counterfeit cash. According to Halton police, fake $20, $50, $100 bills have been circulating in the region and are being used in cash transactions through online marketplaces as well as at retail stores. READ MORE: ‘They are extremely credible’: Retail Council of Canada warns about fake bills Trailers Ontario, a Mississauga company with four locations across the province, told CTV News they were scammed out of $6,200 when someone bought a trailer with counterfeit money. The company sells cargo trailers for various applications. According to the business owner, a customer recently bought one at their Mississauga location and paid for it, in part, with counterfeit money. “It was first thing Monday morning when I found out the cash was counterfeit,” said Nadir Virjee, owner of Trailers Ontario. “A customer came to us last week and he purchased a trailer for $12,204 and he ended up slipping in $6,200 in counterfeit money.” Frustrated that he had been scammed, Virjee ended up calling Peel Regional Police to file a report. “The police tell me it’s a civil matter since he paid half in real currency and half in fake currency,” said Virjee. How to spot counterfeit money To avoid counterfeit money, Peel police recommend avoiding large cash transactions if possible. If a cash payment is required, complete the transaction at a financial institution and don’t accept money you believe may be counterfeit. It’s also recommended to not attempt to use counterfeit currency as it’s a criminal offence. Toronto Police Services also told CTV News they’ve noticed a huge increase in fake bills since the beginning of the year. “Certainly, (counterfeit currency) seems to be on the rise right now, especially with larger denominations, the $100 bills,” said Det. David Coffey, of the Toronto Police Service’s Financial Crimes Unit. “We have already seen almost $50,000 in counterfeit money that has been turned into us and reported to us (since the beginning of 2026).” In a video uploaded on the Bank of Canada’s website, it recommends using three simple tricks to spot a counterfeit bill. Feel the smooth, unique texture of the note, look at the metallic portrait in the large transparent window, and flip the note over and make sure the metallic portrait in the transparent window matches the large portrait on the front of the note. Virjee told CTV News he’s frustrated that he may have to go to small claims court to get his money back. He said his company is now taking more steps to try and spot counterfeit bills. “We did purchase money counters for all our locations just to do more due diligence and I’ve told my team to double check every bill,” he said. If you get stuck with counterfeit cash, a bank will not exchange it for real money. Instead, the bills will be confiscated to get them out of circulation.