Counterfeit money

As our lives become increasingly digitised, the use of cash is declining, but counterfeiting is still a very real issue. In fact, seeing cash less frequently can mean that we are less familiar with what to look for when it comes to counterfeit transactions.

Counterfeit cash

Australia has one of the lowest rates of counterfeit money in the world thanks to the sophisticated anti-fraud measures in our banknotes. If you have concerns about whether a banknote is real, you have the right to refuse to accept it. If you suspect that a banknote may be counterfeit, you can check it by:

• Comparing to a note that you are sure is real.
• Scrunching the banknote up – the plastic polymer means that the banknote should return back to its original shape.
• Checking the clear window – this should run from the top of the note all the way to the bottom.
• Look for the flying bird in the top-to-bottom window – it should move its wings and change colour when you tilt the banknote.

If you think that you may have received a counterfeit banknote, you should:

• Handle the suspect banknote as little as possible and store it in an envelope.
• Note any relevant information, such as how it came into your possession.
• Report it immediately to State or Federal police.

If you have been targeted by a scam relating to your Qudos account, visit our webpage Reporting Scams to find out who to contact.