SBDC e-news – July 2016 Retail theft

Retail theft – can you tell which $100 note is a fake?

Can you tell the difference between a good $100 note and a worthless fake? We’ve got the low down from WA Police, so you can avoid being taken for an expensive ride.

  • Genuine notes are made of plastic and will bounce back if scrunched in your hand.

  • Check the clear window, it should be part of the banknote, not an addition.

  • You should not be able to scratch the white image on the window of $20, $50 or $100 notes.

  • When you hold the banknote to the light, you should see the Australian Coat of Arms.

  • Look for the ‘star’; diamond-shaped patterns are printed inside a circle on both sides of the banknote. When you hold it up to the light, the patterns should line up perfectly to form a seven-pointed star.

  • The printing should be sharp. Check for irregularities such as less clearly defined patterns, and thicker or thinner lines of colour differences.

  • Under a magnifying glass, you should see tiny, clearly defined words.

  • Overall, genuine banknotes don’t fluoresce, apart from the serial number and special patches that do fluoresce under UV light.

Always check for a range of features, don’t rely on just one or two. If you come across a banknote that you suspect is counterfeit, handle it as little as possible and store it in an envelope. Note all relevant information such as how it came into your possession and report the matter immediately to the Federal or State police.

You are well within your rights to refuse to accept a banknote if you have concerns about it.