Fake Banknotes Australia
Fake Banknotes Australia Fake cash is being sold online to Australians, with advertisements for $50 and $100 bills on Facebook. The seller claims the notes will work at Coles and Woolworths and be shipped within two days after a cryptocurrency payment. The counterfeits are valued at $250 for $3,000 worth of fake cash, according to Belinda Grant-Geary, Head of Yahoo Finance Australia.
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Counterfeit notes are illegal and not reimbursed for victims. Although counterfeiting has decreased since 2015, Australian business owners still face financial losses from illegitimate cash, as evidenced by a South Australian supermarket finding a fake $50 note. The Reserve Bank reported a decline in counterfeiting since 2015.
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Australian sellers are offering to send $3,000 worth of fake cash for $250, using images from police investigations. The counterfeit advertisements claim their cash won’t be identified in testing or rejected by poker machines. Some fake cash is easier to spot, with some printed on paper or having strange designs. The advertisements could also have a sinister motivation to dupe vulnerable Australians into transferring money to scammers.
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The Australian Federal Police (AFP) is monitoring reports of counterfeit banknotes being sold or transferred for Australian use. If suspicions persist, suspect notes can be submitted for expert examination. If genuine, they will be returned with written confirmation. Those found guilty of counterfeiting could face a fine of up to $2,000 or 12 years in prison.
