Analysis of the recent data on Counterfeit Notes (Essay Sample)

MEMORANDUM
September 24, 2014
To: Nii Ayi Armah
From: Insert name
Re: Analysis of the recent data on Counterfeit Notes

The following are three observations and analysis from the latest statistics on counterfeit notes; Bank of Canada Banking and Financial Statistics.
Increasing use of $20 counterfeit notes
Over the last four years, the use of the $20 counterfeit bills has increased steadily with an annual average increase of approximately 3,000 notes. The number of $20 notes reduced between 2009 and 2010 but has been rising ever since. The number of $20 bills is the highest compared to all other counterfeit denominations detected. Of all the total number of counterfeits detected in 2013, $20 notes represent 68 percent. This is the highest figure followed by $100 notes, which represents 25 percent in the same year.
Declining use of $5 counterfeit notes
The number of $5 counterfeit notes detected in circulation has reduced significantly over the last 5 years. The figure has dropped gradually from 2,894 in 2009 to 731 in 2013. In 2013, the number of $5 counterfeit notes in circulation is also the lowest representing 1.5 percent. The figures of counterfeit notes detected over the five years are the lowest compared to the number of all other dominations within the same period. This trend has be...