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 per cent 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 per cent 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 paid with them.

Counterfeit notes are not worth anything. So if you get paid with one, and don’t realise until it’s too late, it can be a costly loss.

This year, local businesses and people selling on online marketplaces across Australia have reported a number of incidents of being paid in dodgy $50 or $100 notes.

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