The Bank of Canada today announced the first recipients of its Law-Enforcement Award of Excellence for Counterfeit Deterrence.

Three recipients, Detective Carmine Palermo, Detective Constable Thomas Hancock, and Detective Constable Harjit Sangha, of the Toronto Police Service (TPS) Fraud Squad, have been selected for their impressive initiative and creative work on "Project Greenback". This project resulted in the seizure of approximately $3 million in counterfeit bank notes, as well as the successful dismantling of multiple counterfeit production facilities in the Toronto area.

Detective Staff Inspector Tony Crawford of the TPS Fraud Squad was presented with a plaque in recognition of his unit's dedication to counterfeit deterrence and prevention at a press conference in Toronto.

The Bank of Canada award was created to recognize the dedication and initiative of Canadian law-enforcement personnel in deterring and preventing bank note counterfeiting. "The Bank believes that it is especially important to recognize these efforts, since they have prevented large volumes of counterfeit notes from reaching Canadians and entering into circulation," said Paul Jenkins, Senior Deputy Governor of the Bank.

The recipients of the Bank of Canada's Law-Enforcement Award of Excellence for Counterfeit Deterrence will be honoured for their achievement by Mr. Jenkins at an awards gala during the annual conference of the Canadian Association of Chiefs of Police in Vancouver on 25 August. The Bank is presenting its new annual award at this conference because it has an ongoing partnership with the Canadian Association of Chiefs of Police to raise awareness about counterfeiting issues.