Fake money circulating across Australia—Here's how not to be fooled!
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'Money makes the world go round', they say... but what happens when that money turns out to be fake?
Unfortunately, this is the case in one state and one territory so far, with multiple instances of counterfeit notes reported.
While we're generally familiar with counterfeit money, it's never something at the forefront of our mind.
However, Australian authorities recently released a warning about fake $50 notes circulating around the country, especially in Darwin and Sydney.
The Northern Territory Police disclosed that these phony banknotes were turned into them by a local business.
Law enforcement officers were direct in their guidance: 'The police are urging everyone to remain vigilant regarding the circulation of counterfeit money.'
If you don’t know what to look for, the $50 notes may seem indistinguishable from genuine currency.
Reports state that upon closer inspection, one can spot a visible circle around the clear part of the note, specifically where the southern cross should be.
NT Police said, 'The note has a paper texture, and the security window has visible defects, having been glued on.’
Counterfeit notes have also become a concern in Sydney, with instances of fraudulent currency being discovered.
One woman in Sydney experienced a rude awakening when she realised that her $50 note was counterfeit—it crumpled easily when scrunched into a ball.
Similarly, earlier this year, Queensland Police issued a warning after counterfeit $100 notes were found circulating in the Bundaberg area.
In October last year, there were accusations that students from a prestigious school in Sydney used fake money to trick a small business owner out of $100.
The Manager of Double Bay Newsagency, Jim Cho, claimed that students from Scots College in Bellevue Hill visited his store and asked to exchange four $50 notes for two $100 notes.
However, Mr Cho later discovered that two of the $50 notes were not genuine when he noticed they were shorter than the other real notes in the register.
As a result, the store lost $100. The same group tried to pull off a similar scheme a few days later.
Mr Cho reported the incident to the police, and Scots College confirmed their cooperation with the investigation. Furthermore, the store owner has been fully reimbursed by the school.
If you come across suspicious cash, it is strongly advised to contact the police immediately.
Authorities are encouraging individuals with suspected counterfeit notes to report the incident promptly.
Courtesy of the Queensland Police, here's a mini-guide to help you spot counterfeit currency:
Unfortunately, this is the case in one state and one territory so far, with multiple instances of counterfeit notes reported.
While we're generally familiar with counterfeit money, it's never something at the forefront of our mind.
However, Australian authorities recently released a warning about fake $50 notes circulating around the country, especially in Darwin and Sydney.
The Northern Territory Police disclosed that these phony banknotes were turned into them by a local business.
Counterfeit money refers to a forged currency that imitates legitimate bills and is produced with the intent to deceive and defraud. Image by QuinceCreative from pixabay
Law enforcement officers were direct in their guidance: 'The police are urging everyone to remain vigilant regarding the circulation of counterfeit money.'
If you don’t know what to look for, the $50 notes may seem indistinguishable from genuine currency.
Reports state that upon closer inspection, one can spot a visible circle around the clear part of the note, specifically where the southern cross should be.
NT Police said, 'The note has a paper texture, and the security window has visible defects, having been glued on.’
Counterfeit notes have also become a concern in Sydney, with instances of fraudulent currency being discovered.
One woman in Sydney experienced a rude awakening when she realised that her $50 note was counterfeit—it crumpled easily when scrunched into a ball.
Similarly, earlier this year, Queensland Police issued a warning after counterfeit $100 notes were found circulating in the Bundaberg area.
In October last year, there were accusations that students from a prestigious school in Sydney used fake money to trick a small business owner out of $100.
Counterfeit notes can vary in quality and sophistication, posing a significant challenge to law enforcement and financial institutions in detecting and preventing their circulation. Image from flickr
The Manager of Double Bay Newsagency, Jim Cho, claimed that students from Scots College in Bellevue Hill visited his store and asked to exchange four $50 notes for two $100 notes.
However, Mr Cho later discovered that two of the $50 notes were not genuine when he noticed they were shorter than the other real notes in the register.
As a result, the store lost $100. The same group tried to pull off a similar scheme a few days later.
Mr Cho reported the incident to the police, and Scots College confirmed their cooperation with the investigation. Furthermore, the store owner has been fully reimbursed by the school.
If you come across suspicious cash, it is strongly advised to contact the police immediately.
Authorities are encouraging individuals with suspected counterfeit notes to report the incident promptly.
Courtesy of the Queensland Police, here's a mini-guide to help you spot counterfeit currency:
- Counterfeit notes may feel noticeably thinner or thicker compared to genuine currency.
- Hold the note up to the light and examine the Australian Coat of Arms.
- Look for diamond-shaped patterns within a circle on both sides of the note.
- Ensure that the security window is clear and cannot be easily rubbed off.
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