The Retail Council of Canada (RCC) is warning businesses and consumers about a sharp rise in counterfeit $20, $50, and $100 bills being circulated nationwide.
According to the association, more counterfeit bills were detected in November alone than during the entire previous year.
The timing is not accidental, as the holiday shopping season creates busy retail environments where fraudulent bills are harder to spot.
The RCC is urging governments to provide police forces with additional resources to combat organized retail crime.
While welcoming recent federal measures that grant the RCMP more authority to fight organized crime, the RCC says more action is needed at the provincial level.
National data estimates theft and fraud cost Canadian businesses approximately $9 billion annually.