Sunday, May 19, 2013

Fight against counterfeits: Bank of Canada unveiled new $5 and $10 polymer notes.

The Bank of Canada has unveiled the latest bills in its new polymer note series, the $5 and $10 denominations, a move that comes as it highlights progress made in the fight against counterfeit currency. The new $5 note features images of Canadarm2 and Dextre — robotic contraptions that help to build and maintain the International Space Station. The new $10 note features an image of a rail train journeying through the rocky mountains. What a move, what about the fraud losses total between $10 billion and $30 billion annually, of which majority are counterfeiting scam. Although this is a step forward, however on-line transactions need supplementary security.

No comments:

Post a Comment