Fake 'pineapples' on spiked upward trend

Ouch · Sep 16, 2011

Brisbane Times said:

The humble pineapple has a soft spot among the nation's counterfeiters.

The garish $50 note, despite a reputation for being tough to copy, is the favourite among counterfeiters, according the Reserve Bank, which oversees printing of the nation's currency.
There has been a big spike in counterfeiting in the past year, with around 16 out of every million banknotes in circulation found to be fake. This was about double the ten-year average, though the RBA said this has since fallen sharply after a number of arrests.

Even with the increased counterfeiting activity, Australia has a lower proportion of counterfeit notes in circulation compared to Russia, Canada and the United Kingdom but more than Switzerland, Denmark and New Zealand. The Reserve Bank points out that the overseas average for forgery is between 50 and 100 out of every million notes in circulation. After switching from a paper-base to polymer during the 1990's Australian banknotes became harder to copy.

Over the past decade, almost 80 per cent of forgeries detected have been on a $50 note.
Click to expand...

Read more: http://www.brisbanetimes.com.au/bus...pward-trend-20110915-1kbss.html#ixzz1Y4hrE8z3

Log in or Sign up

Fake 'pineapples' on spiked upward trend

Ouch Active Member

Share This Page

Log in or Sign up

Fake 'pineapples' on spiked upward trend

Ouch Active Member

Share This Page

Useful Searches