A string of fake $100 bank notes has reportedly emerged across shops, bars and pubs in Sydney’s northern beaches, sparking a warning from NSW Police and the Reserve Bank (RBA).
With more than 4300 counterfeit notes detected across the last financial year, the RBA has issued a guide to identifying suspect bank notes, the Daily Telegraph reports.
They advise people to handle the suspect note as little as possible, storing it in an envelope and informing police immediately, noting relevant details including how they came into possession of the note.
How can you spot a counterfeit banknote?
The RBA say these are a few of the ways to detect fake bank notes around the country.
1. Is it plastic?
Australian banknotes are printed on plastic and have a distinct feel. A suspect banknote may feel excessively thick or thin compared to a genuine banknote. It is difficult to start a tear along the edge of a genuine banknote. You can also try scrunching the banknote in your hand – a genuine banknote should spring back.
2. Look for the Coat Of Arms
If you hold the banknote to the light, you should see the Australian Coat of Arms
3. Look for the Star
Diamond-shaped patterns are printed inside a circle on both sides of the banknote. If you hold the banknote up to the light, the patterns should line up perfectly to form a seven-pointed star.
4. Check the clear window
The clear window should be an integral part of the banknote and not an addition. Check that the white image printed on the window cannot be easily rubbed off. Also look for the embossing – there is a wave pattern in the window of the $10 banknote, and the value of the banknote in the windows of $20, $50 and $100 banknotes.