According to this Toronto Star article Canada is one of the world’s worst for circulation of bogus bills.
Internal documents obtained under the Access to Information Act show counterfeiting has for years exceeded a little-known benchmark used by the central bank to signal when the problem has reached “dangerous levels.”
The current threshold is 120 phony bills for every million banknotes in circulation, or 120 parts per million (ppm).
The benchmark, originally set at 100 in 1988, was raised to 120 in recent years just as the proliferation of inexpensive, high-tech copying equipment made Canadian bills a ripe target for counterfeiters.
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In 2004, the worst counterfeiting year in Canadian history, there were 470 phony bills for every million genuine notes circulating.
