Counterfeit banknotes are being detected in Australia this year at a rate not seen since June 2018, according to newly released data from the Reserve Bank of Australia.

The latest six-monthly update on counterfeit detection, which the Reserve Bank has just published online, shows that 40,613 fake notes – 95% of which were $50 and $100 notes – were caught in the 12 months to March 31 this year.

That rate of fake note detection in Australia hit 20 notes per million in the latest data from the March quarter. That’s the highest level of detection since June 2018.

It’s also a 277% surge in just 15 months, from when detected counterfeits hit a low of just 5.3 notes per million in December 2024.

In August, the Australian Border Force said it has seen a substantial increase in counterfeit currency worth millions coming in via air cargo and international mail since early 2025. It also warned there’s been “a concerning improvement in the quality of counterfeit notes”.

Little wonder police across Australia have been stepping up their warnings about how to spot fakes – and what to do if you suspect you’re being........

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