Fake $100 notes being passed around on the northern beaches
WARNING: Numerous fake $100 notes are being passed at cafes, pubs, restaurants and shops as police remind people that it is also an offence for failing to report a fake banknote. Here are eight tips from the Reserve Bank about how to spot a fake.
Manly
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NUMEROUS fake $100 notes are being passed at cafes, pubs, restaurants and shops across the northern beaches.
Police are warning businesses to check any $100 bills they receive in payments.
Australia has one of the lowest rates of counterfeiting in the world, but in the last financial year, according to the Reserve Bank (RBA), more than 4300 fake counterfeit $100 notes were detected by authorities but they believe there are thousands more in circulation.
It is an offence to knowingly possess counterfeit banknotes or fail to report a fake banknote.
The RBA advises that if a person believes have been given a fake bank note they should store it in an envelope and handle it as little as possible.
People should note any relevant information, such as how it came into their possession and then contact police.
HOW TO SPOT A COUNTERFEIT NOTE
1 — Is it plastic?
A suspect banknote may feel excessively thick or thin. It is difficult to start a tear along the edge of a genuine banknote. Scrunching the banknote in your hand — a genuine banknote should spring back.
2 — 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
Check that the white image printed on the clear window cannot be easily rubbed off. Inside the clear window on the $100 banknote is an image of a lyrebird, along with embossing of the number ‘100’.
5 — Feel the dark printing
Special raised ink can be felt with your finger.
6 — Check the print quality
he background printing should be sharp. Check for irregularities such as less clearly defined patterns, thicker or thinner lines, or colour differences.
7 — Look for microprinting
Under a magnifying glass you will see tiny, clearly defined words. On the $100 banknote the words ‘one hundred dollars’ and the number ‘100’ are microprinted.
8 — Look at the banknote under UV light
Most of the banknote should not fluoresce. The exceptions are the serial numbers, a patch on the $5 banknote and a patch on the $20, $50 and $100 banknotes that also shows the value.
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