Lexi Webster
Counterfeit money is a growing issue in Australia, with the rise of fake notes impacting businesses and individuals alike. As the quality of counterfeit notes improves, it is becoming increasingly important to be able to detect fake currency. While there are various methods and technologies available for checking counterfeit money, this article will outline the key techniques to identify and handle counterfeit Australian currency, ensuring you stay informed and protected. From the tactile 'scrunch test' to examining security features, knowing how to spot a counterfeit note can help prevent financial loss and aid in reporting instances of counterfeit currency.
| Characteristics | Values |
|---|---|
| Material | Genuine Australian notes are made of plastic/polymer. |
| Texture | A fake note may feel excessively thick or thin compared to a genuine note. |
| Tear | It is difficult to start a tear along the edge of a genuine note. |
| Scrunch test | A genuine note should bounce back when scrunched. |
| Clear window | The clear window should be part of the banknote, not an addition. |
| White image | You shouldn't be able to scratch the white image on the window of $20, $50 or $100 notes. |
| Coat of Arms | When you hold the banknote to the light, you should see the Australian Coat of Arms. |
| Diamond patterns | Diamond-shaped patterns are printed inside a circle on both sides of the banknote. When held up to the light, the patterns should line up perfectly to form a seven-pointed star. |
| Printing | The printing should be sharp, with no irregularities such as less clearly defined patterns, thicker or thinner lines, or colour differences. |
| Serial number | The first two numerals of the serial number indicate the year the banknote was produced. For example, 99 means it was printed in 1999, while 03 means it was printed in 2003. |
| Signatures | The Governor's signature is always printed above that of the Secretary to the Treasury. |
| Portrait | The banknote is counterfeit if it does not have the printed name of the person below the portrait. |
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What You'll Learn
What to do if you receive counterfeit money
If you receive counterfeit money, it is important to remain calm and follow these steps:
Firstly, it is within your rights to refuse to accept a banknote if you suspect it is counterfeit. You should handle the banknote as little as possible, as tampering with suspected counterfeit money may jeopardise your safety or that of others. Place the banknote in an envelope and store it securely.
Note any relevant information, such as how the banknote came into your possession. Take photographs of the banknote, ensuring that the serial number is visible. You may also want to record other identifying details, such as the time, date, and location where you received the banknote.
Report the matter to the State or Federal police as soon as possible. You can contact the Australian Federal Police or the police force in your state or territory. Provide them with the banknote and any information or evidence you have gathered. Keep a record of the report for your reference.
It is important to act promptly and cooperate with the authorities. Counterfeit currency is a serious offence in Australia, and possessing or using counterfeit money knowingly can result in legal consequences, including imprisonment and fines.
If the banknote is found to be genuine, it will be returned to you, and you will receive its full value. However, if it is confirmed to be counterfeit, it will be held for 90 days and then destroyed by the Reserve Bank of Australia (RBA). Remember that counterfeiting currency is a crime, and by taking the appropriate steps, you are contributing to its detection and prevention.
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How to identify counterfeit money
It is an offence to knowingly possess counterfeit currency in Australia. Australian banknotes are printed on polymer, which bounces back after being scrunched and cannot be easily torn. One of the easiest ways to determine if a note is counterfeit is by how it feels. If it's printed on paper or another type of material that isn't polymer, it's a guaranteed fake. A counterfeit banknote may feel excessively thick or thin compared to a genuine banknote.
Another easy way to spot a counterfeit note is to look for the clear window. The clear window should be part of the banknote, not an addition. You shouldn't be able to scratch the white image on the window of $20, $50, or $100 notes. Newer notes will have a clear window from top to bottom, with various holograms that move. When you hold the banknote to the light, you should see the Australian Coat of Arms.
You should also look for the 'star'—diamond-shaped patterns are printed inside a circle on both sides of the banknote. When you hold it up to the light, the patterns should line up perfectly to form a seven-pointed star. The printing should be sharp. Check for irregularities such as less clearly defined patterns, thicker or thinner lines, or colour differences. Newer notes also include raised print and shadow images, and parts of the banknote fluoresce under ultraviolet light.
If you suspect that a banknote is counterfeit, you can refuse to accept it. If you have already accepted a banknote that you think could be fake, handle it as little as possible and store it in an envelope. Note any relevant information, such as how it came into your possession, and report the matter to the police.
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The legality of counterfeit money in Australia
Counterfeit money is illegal in Australia. It is an offence to knowingly possess counterfeit currency from any country. This includes replicas and other products that are made to resemble genuine Australian currency. According to the Reserve Bank of Australia, if you come across a banknote that you suspect is counterfeit, you should immediately give it to the State or Federal police. It is within your rights to refuse to accept a banknote if you suspect it is counterfeit. However, if you have accepted a banknote that you think could be fake, you should handle it as little as possible, store it in an envelope, and report it to the police.
In New South Wales, making or using counterfeit money knowing that it is fake carries a penalty of up to 10 years in jail under the Crimes Act 1900 (NSW). This offence is known as obtaining a financial advantage or benefit by deception.
Counterfeit currency is held for 90 days as required by the Crimes (Currency) Act 1981 and is then destroyed. Only the Reserve Bank of Australia (RBA) is authorised to destroy currency. If you have counterfeit currency that has been processed, you can request a property receipt. If the currency is deemed genuine, it will be returned to you.
There are several security features on Australian banknotes that can help you identify counterfeit money. These include the printed name below the portrait, the Governor's signature above the Secretary to the Treasury's signature, and the year of production indicated by the first two numerals of the serial number. Genuine notes are made of plastic and will bounce back when scrunched. There should also be a clear window that is part of the banknote, and you should see the Australian Coat of Arms when holding the banknote to the light.
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How to report counterfeit money
If you come across a banknote that you suspect is counterfeit, you should handle it as little as possible. Place it in an envelope or other container and note any relevant information, such as how it came into your possession.
You should then report the matter immediately to the State or Federal police. You can do this by taking the suspected counterfeit money to your nearest police station. The police will take it for evidence. It is the Federal Police that handles instances of counterfeit money circulation.
You are within your rights to refuse to accept a banknote if you suspect it is counterfeit. However, it is an offence to knowingly possess counterfeit currency from any country. If you have received counterfeit currency, you can request a property receipt once it has been processed. If the suspected counterfeit currency is found to be genuine, it will be returned to you.
If you are unsure whether a banknote is counterfeit, you can refer to the Reserve Bank of Australia's (RBA) counterfeit detection guide. The RBA is the only organisation authorised to destroy currency.
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How to spot fake $100 notes
Fake $100 notes have been in circulation in Australia, and there are several ways to spot them. One of the easiest ways to tell if a note is counterfeit is by feeling it. Genuine Australian $100 notes are made of polymer and will bounce back if scrunched in your hand. Fake notes may feel excessively thick or thin compared to a genuine banknote, and it is difficult to start a tear along the edge of a real note.
You can also hold the banknote up to the light and check for the Australian Coat of Arms. A star, or diamond-shaped patterns printed inside a circle, should be visible on both sides of the banknote. When held up, the patterns should line up perfectly to form a seven-pointed star. The printing should be sharp, with no irregularities such as less clearly defined patterns, thicker or thinner lines, or colour differences.
The clear window in the banknote should be part of the note, not an addition. You shouldn't be able to scratch the white image on the window of a genuine $100 note.
Other security features to look out for include the printed name of the person below the portrait. Notes printed from 2002 onwards will have the name of the person featured. The Governor's signature is always printed above that of the Secretary to the Treasury. To determine the year a banknote was produced, look at the first two numerals of the serial number. For example, '99' means the banknote was printed in 1999, while '03' means it was printed in 2003.
If you come across a banknote that you suspect is counterfeit, handle it as little as possible and store it in an envelope. Note any relevant information, such as how it came into your possession, and report it immediately to the State or Federal police. You are within your rights to refuse to accept a banknote if you suspect it is counterfeit.
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