Counterfeiting in Australia

Counterfeiting of Australian banknotes is approaching its lowest level in a decade. The Reserve Bank of Australia (RBA) has carried out an analysis of the factors playing a role in this decline and quantified their effects. The report – Recent Trends in Counterfeiting – has been published in its June Bulletin.

Counterfeiting in Australia has been steadily declining since its peak in 2015. The Bank received around 17,000 counterfeits in 2021 with a total value of just over $1.3 million – a small amount relative to the total number of banknotes in circulation (c. 2 billion notes, worth £102 billion). The counterfeit ratio is currently 9 ppm. At its peak, in 2015, it was 27 ppm.

THE RBA has attributed the decline between 2015 and 2019 to law enforcement shutting down several counterfeiting operations, and the roll-out of the NGB series with upgraded security features. The NGB series began with the introduction of the new $10 in September 2016, and concluded with the new $100 in October 2020.