Waterloo Regional Police are investigating a deceptive bank fraud in Kitchener, Ontario, where individuals attempted to pass off rolls of common metal washers as genuine Canadian two-dollar coins, known as toonies.
The Deceptive Scheme Uncovered
Police released photographic evidence on January 16, 2026, as part of their active investigation. The images show rolls of coin-shaped metal washers, which from the outside closely resemble standard bank rolls of toonies. The fraud involved presenting these rolls at a financial institution in an attempt to deposit or exchange them for real currency.
Police Investigation and Public Awareness
The Waterloo Regional Police Service is leading the probe into this incident. By releasing the photos, authorities aim to alert other financial institutions and the public to this specific method of fraud. Investigators are working to identify the individuals responsible for the attempted scam.
This case highlights a physical, low-tech approach to financial crime amidst a digital age. While many frauds have moved online, this incident serves as a reminder that traditional counterfeit schemes persist. The success of such a fraud depends on the rolls not being closely inspected during the transaction.
Broader Context of Financial Crime
This Kitchener fraud emerges alongside other recent reports of financial crime in the region, including an increase in counterfeit cash noted by police in Timmins. It underscores the ongoing challenges law enforcement and financial sectors face in detecting and preventing various forms of monetary deception.
Authorities encourage businesses and bank tellers to remain vigilant, particularly when handling rolled coinage. They advise carefully checking the contents of any coin rolls during transactions, especially from unfamiliar individuals. The police have not disclosed the exact financial loss associated with this specific attempt.
The investigation remains ongoing. Waterloo Regional Police are asking anyone with information related to this fraud to contact them or Crime Stoppers anonymously.
