Leslie Massey
Australians have been warned about the dangers of counterfeit money, which is being sold online and via social media, with scammers claiming it will not be identified by poker machines or supermarkets. It is an offence to knowingly possess counterfeit notes, and those found guilty of crimes associated with the possession or use of fake money could face a fine of up to $2,000, or 12 years in prison. If you suspect that you have come across counterfeit money, you can refuse to accept it, and you should handle it as little as possible before taking it to the police.
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What You'll Learn
How to identify fake money in Australia
Australia has one of the lowest counterfeiting rates in the world due to the security features on its plastic banknotes. Here are some ways to identify counterfeit Australian money:
First, feel the banknote. Genuine Australian banknotes are printed on plastic, not paper, so they should not feel like paper or have a paper texture. They are also difficult to tear and will not crumple like paper.
Next, look at the banknote. Each note has a clear window with a picture printed on it. Check that the window doesn't look stuck on or joined, and that it is continuous with the rest of the note. The window should also be a bit cloudy, and the area around it should be smooth. You should also see fine line patterns on each side of the note that are multi-coloured.
Then, tilt the banknote. You should see a bird with flapping wings and a number that changes direction. On the new banknotes, a bird, wattle, and the year of print are revealed under UV light. You will also see a patch in the top corner that changes colour in a rolling effect.
Finally, hold the banknote up to the light. You should see the Australia Coat of Arms and a seven-pointed star. 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, "03" means the banknote was printed in 2003.
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What to do if you receive fake money
If you receive fake money, the first thing to remember is not to panic. It is important to remain calm and handle the situation in a sensible manner. Here are some steps you can take:
Refuse to Accept It
If you suspect that a banknote may be counterfeit, you have the right to refuse to accept it, especially if your safety is at risk. It is always better to be cautious and decline potentially fake currency than to risk legal consequences by knowingly possessing or using counterfeit money.
Check Security Features
Australian banknotes have several security features that can help you determine their authenticity. These include holograms, small text details, plastic texture, and a clear window with an image that has a light and dark effect. Real Australian money is printed on polymer, a type of plastic, so a genuine banknote should return to its original shape after being scrunched up. Additionally, the Reserve Bank of Australia (RBA) provides information on identifying counterfeit currency, including checking for specific security features on their website.
Contact the Authorities
If you have received counterfeit currency, you should contact the police and file a report. You can take the suspected fake money to your nearest police station, where they will handle it as evidence. It is an offence to knowingly possess counterfeit banknotes, and the police will be able to guide you on the appropriate course of action.
Report to a Bank
Another option is to take the suspected counterfeit currency to a bank. They can examine the banknote and determine its authenticity. If it is confirmed to be counterfeit, the bank will likely notify the relevant authorities and handle the situation accordingly.
Handle It with Care
It is important to handle suspected counterfeit currency as little as possible. Place it in an envelope or container to minimize direct contact. This helps preserve any potential evidence, such as fingerprints, that could assist the authorities in their investigations.
Remember, it is illegal to possess or use counterfeit money in Australia, and those found guilty can face significant penalties, including fines and imprisonment. Always be vigilant and aware of the security features in Australian banknotes to protect yourself from becoming a victim of counterfeit currency.
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Where to report fake money in Australia
If you have received fake money in Australia, it is important to report it to the relevant authorities. Here are some steps to take and entities to contact when reporting fake money:
- Handle the counterfeit money with care: It is recommended to handle suspected counterfeit money as little as possible. Place it in an envelope or container to minimise direct contact.
- Report to the police: Take the suspected fake currency to your nearest police station and file a report. The Federal Police handle instances of counterfeit money circulation in Australia. They will take the money as evidence and investigate its source. You can also report any related fraud or scam attempts, especially if you believe a criminal offence has occurred.
- Contact Scamwatch: If the fake money is part of a scam, report it to Scamwatch, Australia's scam reporting centre. They help disrupt current scams and warn the community about emerging fraudulent activities. You can also seek their guidance on recovering from scams and protecting your identity.
- Notify your financial institution: Contact your bank or credit union immediately if you have inadvertently sent money to a scammer. They can advise you on the necessary steps to protect your account and funds.
- Secure your accounts: Change the passwords to any accounts that may have been compromised, including banking, superannuation, and email accounts. Consider contacting a credit reporting agency to monitor any attempts to open accounts in your name without your consent.
- Report to relevant government entities: Depending on the nature of the fraud, you may need to report it to specific government entities. For instance, suspected Medicare, welfare, or tax fraud should be reported to Services Australia and the Australian Taxation Office (ATO), respectively.
- Seek legal advice: Consult a solicitor if you have lost money due to fraud or scams. They can help you pursue legal action and attempt to recover your funds.
Remember, it is an offence in Australia to knowingly possess or circulate counterfeit currency. Always be vigilant and report any suspected fake money or fraudulent activities to the appropriate authorities.
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Penalties for possessing or using fake money
In Australia, it is an offence to knowingly possess counterfeit banknotes. The Crimes (Currency) Act 1981 defines counterfeit money as any article that resembles or is intended to resemble or pass for genuine coin or paper money. It is a federal crime to make, use, or possess counterfeit currency with the intent to defraud. While a conviction requires proof beyond reasonable doubt, police may arrest you if they have probable cause to believe you committed a crime.
The penalties for counterfeiting crimes vary depending on the jurisdiction and the specifics of the case. Federal law imposes a maximum penalty of 20 years' imprisonment for counterfeiting offences, and a person may also face steep fines upon conviction. State penalties can range from misdemeanours to serious felonies, with some states imposing harsher penalties for making or altering bills than for possession offences. The value of the counterfeit currency and the defendant's criminal history may also influence the severity of the sentence.
In addition, it is illegal to possess instruments or materials intended for counterfeiting. The maximum penalty for this offence is 10 years' imprisonment or 500 penalty units (with each unit currently valued at $222) under the Crimes (Currency) Act 1981.
It is important to note that a defendant cannot be convicted of possessing or using counterfeit currency if they did not know it was counterfeit and did not have the intent to defraud. However, claiming ignorance may not always be a successful defence, as prosecutors may argue that the defendant should have been aware of the currency's counterfeit nature.
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How to avoid falling victim to fake money scams
It is essential to be vigilant and cautious to avoid falling victim to fake money scams. Here are some critical steps to take to protect yourself:
Be Aware of Security Features: Familiarize yourself with the security features of genuine Australian banknotes. Look for specific details such as the presence of polymer material, which is used in authentic Australian currency instead of paper. Check for the year the banknote was produced by examining the first two numerals of the serial number. For example, "03" indicates the banknote was printed in 2003.
Refuse Suspicious Banknotes: If you have doubts about a banknote's authenticity, you are within your rights to refuse to accept it. Your safety is paramount, so trust your instincts and do not put yourself at risk.
Report Counterfeit Currency: If you come across counterfeit currency, handle it as little as possible. Report it to the State or Federal police, who will process the suspected counterfeit and can provide you with a property receipt if requested. Remember, counterfeits have no value, and you will not be reimbursed for them.
Beware of Online Scams: Be cautious when encountering advertisements for counterfeit money online, especially those claiming to work at specific retailers or offering quick financial fixes. These scams often target vulnerable individuals, and it is illegal to possess or use fake money.
Secure Your Financial Information: If you suspect you have been a victim of a scam, immediately contact your bank or financial institution. Ask them to stop any transactions and secure your accounts. Report the scam to the relevant authorities, such as Scamwatch in Australia, to help warn others and disrupt scam operations.
Educate Yourself and Others: Stay informed about the latest scamming techniques by visiting official websites and using tools like "Have you been hacked" guides. Share your experience with those around you to raise awareness and help prevent others from falling victim to similar scams.
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Frequently asked questions
If you suspect that you have received counterfeit money, you can refuse to accept it. If you have already accepted it, you should handle it as little as possible and take it to your local bank or the nearest police station.
Australian currency is made from polymer, a type of plastic, so real banknotes should feel like plastic, not paper. You can also look for security features such as holograms, small text, and the clear window with an image that has a light and dark effect.
If you accidentally use fake money, you will not be reimbursed. However, you likely will not face any legal consequences as long as you were not knowingly involved in the circulation of counterfeit currency.
It is illegal to knowingly possess counterfeit money in Australia. Those found guilty of such crimes can face fines of up to $2,000 or up to 12 years in prison.
The Reserve Bank of Australia (RBA) provides resources to help identify counterfeit banknotes, including a counterfeit detection guide on their website.
