|Date||25 November 2010|
|Embargo||For Immediate Release|
Banknotes: Seizure of Counterfeits
On 24 November, the Australian Federal Police and NSW Police seized a quantity of $50 counterfeit Australian banknotes. Several associated arrests were also made.
The counterfeits that have been seized are a good quality reproduction of a banknote. However, they can be identified as counterfeits by checking the security features.
The overall rate of counterfeiting in Australia remains very low by international standards. It is, nevertheless, important that people are aware of security features on banknotes, so they are able to identify a counterfeit in the unlikely event they receive one.
Reserve Bank of Australia
Phone: +61 2 9551 9720
Fax: +61 2 9551 8033
Notes to editors
It is an offence under the Crimes (Currency) Act 1981 to make, possess or distribute counterfeit banknotes. Penalties that can be applied are severe and can result in up to 14 years imprisonment.