Glow Paint Industries Blog
How to detect counterfeit notes
Counterfeit currency has been around for centuries.
If you unknowingly accept counterfeit money, it hurts you financially; and is also bad for your countries economy.
If a bank detects your deposit as counterfeit money, they will confiscate it and you will not be reimbursed financially.
As a young teenager I remember watching an older Person put some either copper or brass counterfeit coins into a food vending machine. The counterfeit coins were accepted by the machine and dropped his choice of food.
Only a few weeks ago, a male on the Gold Coast sold a mobile phone to a person for $650.00.
It wasn’t until the buyer had left that he realised that all of the $50.00 notes had the same serial number.
If you receive counterfeit money please advise the federal Police as soon as possible.
Steps you can take to help avoid accepting counterfeit money.
- In Australia, compare newer bank notes with older one you already have. Counterfeit bills can be thicker than legal bank notes.
- Check serial number on notes of same dollar value. Counterfeit notes sometimes have the same serial numbers.
- Possibly paper and not plastic like the newer notes are made of.
- Older bank paper notes are more difficult to detect. They need special lights to check them.
click this link to discover the best counterfeit money detector?
What is the best counterfeit money detector? As stated in the previous article on identifying counterfeit money there are some visual checks you can make to check for counterfeit notes. Click here to read the article on identifying counterfeit notes. If you are checking older bank notes then you will need a special UV light to help [...]
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