Local businesses within the Young community have reported an influx in suspicious currency over the past few months.
A particular increase in counterfeit 50-dollar notes has been reported, and although no arrests have been made, authorities warn the cash could have circulated more widely than anticipated.
This resurgence follows 11 counterfeit money offence charges on a man in 2019 who had used fake 50-dollar notes to purchase low value items.
The man was found with one counterfeit note on his possession and was later charged with 11 offences from the Crimes Currency Act, including six counts of possess counterfeit money and five counts of utter counterfeit money knowing it to be counterfeit.
Police have issued alerts after reports of the fake notes being found in nearby areas, such as Wagga and Tumut.
Young residents have been encouraged to check their notes carefully.
But what should residents look out for?
Genuine Australian banknotes, issued by the Reserve Bank of Australia (RBA), are printed on polymer plastic with advanced security features that make them hard to replicate.
Real notes have a distinct, smooth texture and bounce back if scrunched – they don’t tear easily like paper fakes – and if held up to a light, the Australian Coat of Arms and a seven-pointed star should be seen on both sides.
When tipping a note, dynamic elements (such as a bird’s wings moving/changing colour, or a rolling colour effect on a clear window) should be visible.
Under UV light, serial numbers and other features should glow and the clear window should be integrated into note (not added on) with embossed patterns or values depending on the denomination.
A more notable tell is the inclusion of the word ‘PROPS’ in the corner.
If you encounter a counterfeit note, handle it as little as possible to preserve evidence and store it in an envelope. Note details such as when and where you received it, as well as any description of the person who passed it to you.
Report it immediately to the local police station, or call 131 44 for non-urgent matters.
It is an offence to knowingly possess or use counterfeit money. If it is confirmed as fake, you will not be reimbursed.
For more information, visit the Reserve Bank of Australia’s (RBA’s) or contact local police.
The South West Slopes Times covers an area approximately the size of Fiji in country NSW. We look after a population of more than 50,000 people with our staff servicing 7 major towns and dozens of villages with our story telling footprint.
We offer weekly print editions at $3 a copy and we also offer digital subscriptions across 3 months $30, 6 months $60 and 12 months $120.
We are one of the last truly local independent family run newspaper businesses in the state.
Contact us today to find out how we can promote your business or organisation across our huge network by emailing ads@thetimes.net.au or by calling 0413 763 216.
If you have a news tip, lead or scoop for us please make contact as we love celebrating our communities. You can contribute articles via our South West Slopes Times website.