Canada's new plastic money: Stop Counterfeit or Track Canadians?



The look and feel of Canadian Money is changing. Starting mid-November 2011, the Bank of Canada will introduce plastic bank notes into circulation beginning with the $100 bill.

The new $50 bill will be introduced in March 2012 and the remaining denominations will be issued by the end of 2013.

RBC is pushing these banks notes stating that they are "printed on a smooth, durable film." There are over 30 countries that currently print some or all of their denominations on polymer, including Australia, Mexico, and Romania.

However, there was never any formal consultations with Canadians about these new bank notes.  The new bank notes could be used to potentially enable RFID tracking devices according to some investigative researchers.  Such tracking technology, if implemented, could make Canadians vulnerable to high tech savvy theives who would otherwise not know how much money someone is carrying on them. 


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