New Westminster police say two fake hologram $100 bills have already been found at a local business and a major bank.
But Sgt. Diana McDaniel said the difference between the real thing and the counterfeit bills is clear.
A real bill clearly shows the flag and rooftop of Parliament Hill's Peace Tower in the hologram window, along with the number 100, repeated several times.
"But on the counterfeit $100 bills, the 100, the rooftop and flag are clearly not present," said Sgt. McDaniel.
Investigators are still trying to find the source of the bogus bills.
The new $100 bill was introduced in November 2010, the first in a series of "secure" polymer banknotes introduced by the Bank of Canada, largely to thwart counterfeiters.
- Canada's first polymer money has enhanced security features
New $50 and $20 bills are also in circulation, with $5 and $10 coming in November.