Are Counterfeit Notes Common?

0FoxGiven on 02/12/2023 - 16:27
Last edited 02/12/2023 - 17:19

I once sold something on Facebook marketplace from a guy that looked quite genuine. But when I deposited the cash in an ATM, one of the notes got rejected. When I looked it up in the light I noticed the colour was stripping in vertical lines and the note itself felt slightly more coarse and different when compare to usual genuine notes. Since then I have always inspected notes before handing over any package.

Today I have had three buyers come to pickup a slightly high value item. All of them had one or more notes that seemed to be counterfeit with colour stripping in vertical lines and the material felt different. The buyers themselves didn't seem shady at all and their Facebook profile looked genuine with family pics with the buyer in it. I had to turn them away and they were understandably disgruntled as even I would be. I looked at all the notes we had at home and none of them had the same characteristics so I'm quite sure the notes I identified were fake.

Makes me think, that counterfeit notes are quite common and many people have unknowingly gotten their hands on them. I'm just surprised it not something I hear too often about in the news as compared to drugs etc.

What's the OzB opinion on this? Anybody ever noticed fake notes in their transactions?

Here is a pic of a note I have in my possession which I don't know if it's genuine or not because it feels like the right material and it has a serial number that shows up under a black light but it has the colour stripping in vertical lines : https://pasteboard.co/kiqRfd7ANL1n.jpg

Financial

Comments

  • BlackorRed on 02/12/2023 - 16:33
    +1

    with the new print technology, they can make it very real when it comes to unaware situation, specially small private transaction…you should always try to feel the notes and look thru those logo…I recommend to invest a cash torch if you are dealing with cash daily

    • 0FoxGiven on 02/12/2023 - 16:44

      Yup have a UV light which I use for checking notes which I'm not sure are counterfeit. But yes, I should just use it always and risk buyers thinking I'm super weird :D

      • dcep on 02/12/2023 - 17:20
        +3

        Nice reminder for Ozb standard response to osko/payid scam

        Cash only + UV test

  • Nugs on 02/12/2023 - 16:51
    +2

    never seen one, or maybe I have and never knew
    .

  • scrimshaw on 02/12/2023 - 16:58

    Do they look like this?
    https://www.facebook.com/SouthAustraliaPolice/posts/72597042…

    The new notes are much harder to counterfeit now, since not only do they have a clear window, there's a clear stripe that runs right down the middle of the banknote with holograms printed inside.

    The fake notes are printed on paper and feature a clear plastic window that is basically glued on. you should be able to easily scrunch or tear paper notes, but polymer notes are much more resilient to wrinkling or tearing.

    • 0FoxGiven on 02/12/2023 - 17:08

      Na looked better quality than that.

  • Daabido on 02/12/2023 - 16:59
    -8

    It knocks down the price of what you're buying if you slip or or two fakes in with real stuff. One or two you could plead ignorance.

    • thrillhouse on 03/12/2023 - 08:46
      +1

      You sound like a decent person.

  • Jimothy Wongingtons on 02/12/2023 - 18:25
    +2

    Alright enough is enough no more selling on fb for me

  • BertieBrown on 02/12/2023 - 19:49
    +2

    Not really. My partner has worked retail for a long time and I think she could count the number of times she’s found a bum note on one hand. Yeah, as far as I know not very common at all.

  • bobbified on 02/12/2023 - 21:00
    +2

    but it has the colour stripping in vertical lines : https://pasteboard.co/kiqRfd7ANL1n.jpg

    That just looks like a heavily used note. I don't think that's fake. There's a few other security features like the window and the micro text etc. that you can check.
    Edit: The colour coming off looks consistent with this picture from this RBA website.

    Today I have had three buyers come to pickup a slightly high value item. All of them had one or more notes that seemed to be counterfeit with colour stripping in vertical lines and the material felt different.

    Three different buyers? Unless they knew each other and all three are trying to rip you off by handing you a fake $10 note (lol!), it's pretty difficult to imagine that three out of three buyers would each have a fake note.

    I think you're being a little paranoid here.

    • GordonD on 02/12/2023 - 21:23
      +2

      I think you're being a little paranoid here.

      You'd be paranoid too if everyone was trying to foist counterfeit notes off on you.

      (With apologies to Star Trek DS9:
      Everyone's trying to kill me.
      Everyone? Aren't you a little paranoid?
      Of course I'm paranoid. Everyone's trying to kill me.
      -Weyoun)

    • 0FoxGiven on 02/12/2023 - 21:47

      Maybe I am, but don't wanna take chances when the notes are all $100 bills. And I agree, it does look like the vertical worn out ink in my image seem kinda consistent with what was shared in your link.

      Maybe I was too hard on those buyers :(

      • djkelly69 on 02/12/2023 - 23:22

        don't wanna take chances when the notes are all $100 bills

        Wait, you had 3 people in one day try to pay with $100s??

        • 0FoxGiven on 03/12/2023 - 15:59

          Two with 100s and one with 50s

    • garetz on 02/12/2023 - 21:58
      +1

      This is what happens to a note thats gone through the wash, its not counterfeit.

      That could also be why an atm might not recognise it.

  • GordonD on 02/12/2023 - 21:19
    +2

    I'm quite sure the notes I identified were fake

    OP, it is extremely unlikely you would encounter fake notes that often. So they probably weren't.

    Reserve Bank says about 1 note per 100,000 in circulation is a fake.

    • 0FoxGiven on 02/12/2023 - 21:49

      Yes I kinda think that too. I honestly would prefer PayID transactions but I have heard sometimes some buyers get the transaction reversed by their bank. Thus sticking to cash but weary ever since I received a fake note.

  • JIMB0 on 02/12/2023 - 22:34

    Now you're not even safe with being cash only for Facebook marketplace sales.

  • 2esc on 03/12/2023 - 09:18
    +2

    No way 3 different buyers with fake notes on the same day.

  • reactor-au on 03/12/2023 - 09:27

    The ATM will reject notes that are creased or bumpy (like if you crumpled it badly then tried to flatten it again), sometimes if you try a second time it accepts.

    • 0FoxGiven on 03/12/2023 - 15:58

      Na the note that the ATM rejected was definitely fake cuz it did reject it multiple times and it was not the exact size match either for a note of the same denomination

  • ConfirmLogin on 03/12/2023 - 09:54

    I used to work retail and counterfeit notes were really uncommon - the ones that ended up being detected were often slightly the wrong size or had issues with printing on the clear window - if you rubbed the clear window the print would come off. Otherwise there were differences in the material although that’s harder to figure out unless you handle a lot of cash as the age of notes can make them feel pretty different. There is also misaligned prints - there are a couple of features that should be visible if you look through the notes.

    I wouldn’t have looked for the cracking in the print as an indication of a fake as it’s probably just an old note and machines can have trouble reading them even if they’re not fake. With the way machines detect notes I doubt there are many notes that are the wrong size out there been passed around anymore but you’d be surprised with what people try to pull off.

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