BIS central bankers’ speeches  1  The stakes are high when it comes to counterfeiting, not only in direct losses to Canadians, but also the loss of confidence that it creates in the use of bank notes. The challenge of counterfeiting is significant.
There was a time, in 2004, when counterfeiting in Canada was at a historic peak – and high by international standards. I’m sure many of you remember seeing signs posted in stores saying that $ or $ bank notes were not accepted.