A counterfeit $5 bill, above, is shown with a real one. The holograms on the fake one have been replaced with foil, and tape has been substituted for the clear plastic panel.

Canadians are being warned to watch out for $5 bills cunningly held together by strips of tape and foil, in what police are calling a "splice and tape" trend among counterfeiters.

The sticky-tape switcheroo is affecting Canada's new $5 polymer bills, which have been touted as harder to counterfeit than the old paper banknotes. Police say counterfeiters are removing theclear panel near the side of the bill, which also contains two shiny, embedded holographic strips. The clear plastic is being replaced with tape, and tinfoil is being used as a substitute for theholograms.

Investigators suspect the real $5 panels are being repurposed to create higher-denomination counterfeits, while the cobbled-together $5 bills are being put back into circulation. The result is twoFrankenstein-like sets of bills, with each containing elements of real and fake banknotes.

RCMP Cpl. Vinh Ngo, of the Federal Serious and Organized Crime unit, said the problem is widespread. "I think it's everywhere really," Ngo told CTV Vancouver. "There are nocertain geographical patterns."

He added that there are "some elements" of organized crime involved in the counterfeiting.

When presented with the fake $5 bills, several Canadians in Vancouver couldn't immediately tell the difference.

"This is what these individuals prey upon - people not verifying the bank note," Bank of Canada analyst Farid Salji said.

Salji says Canadians should always check two or more of the security features on their bank notes, so they don't get duped by a Frankenstein bill. "Never rely on one," he said.

To read the complete article, see:
Check your wallet: RCMP warn of 'splice-and-tape' counterfeit bills(http://www.ctvnews.ca/canada/check-your-wallet-rcmp-warn-of-splice-and-tape-counterfeit-bills-1.3415881)