T.T.C. Introduces New “Fraud Proof” Tokens
Posted November 20, 2006 12:00 pm.
This article is more than 5 years old.
The Red Rocket introduced the brand new discs Monday, designed to combat counterfeiters who are bleeding the system of millions of dollars.
The new tokens, which are dual-coloured to make them more difficult to reproduce, also have a special fraud-foiler inside them. But that’s all transit brass will reveal about the concealed crime stopper.
“They have a milled edge and there is a secret device implanted in them that will give them away if someone tries to use one,” admits T.T.C. Chair Howard Moscoe. He refuses to say what kind of technology is being employed but hopes it will last a while.
“As careful as we are and as good as we are, you can never absolutely eliminate forgeries,” he concedes.
The new tokens will go on sale November 26th, but what happens if you still have some of the old ones? Either use them soon or change them for the newer models.
“Our riders will have until January the 31st to dispose of their old tokens. They can use their old tokens until January 31st. January 31st, then they have a year to reclaim them or turn them in and get new tokens.”
Moscoe acknowledges that exchanging the tokens will be a pain at first, but he believes riders will accept the change.
“The teeny toonie token will be an institution in Toronto,” he suggests. “I think Toronto will very quickly warm up to the new token. It kind of looks like a Voortman’s shortbread cookie.”
Passengers will only be able to turn in the old coins at what the T.T.C. terms ‘key’ stations along the route beginning January 2nd.
They are:
- Bloor-Yonge,
- Finch,
-
Kipling,
-
Warden,
-
T.T.C. H.Q. at 19 00 Yonge St.
The change came about after several police forces banded together last year to break up an international token counterfeiting ring.
It’s estimated the replacements will cost the system $1.7 million – or about 8 cents apiece. But the T.T.C. considers that a bargain. It lost $10 million in fares to the 2005 fraud scheme.
It’s the first time tokens have been updated since 1975.
