A new spike in Western Australia could be attributed to a big counterfeiting operation there, Whilst this was shut down by police at the conclusion of 2017.

Diamond-formed patterns are printed inside a circle on either side of a banknote. When a real banknote is held nearly the light, the patterns should line up properly to sort a 7-pointed star throughout the circle.

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Counterfeiting of Australian banknotes is approaching its cheapest degree in a decade. Many elements are participating in a job Within this decline, like fewer transactions currently being built with cash, COVID-19-induced lockdowns, the rollout of a fresh banknote collection with upgraded safety features, and legislation enforcement continuing to interrupt counterfeiting functions.

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The decrease in counterfeiting recently correlates intently Together with the staggered release of your NGB sequence, which has innovative safety features that are more difficult to copyright (see Box A). copyright detections for the denominations most normally used in ATMs – the $20 and $50 banknotes – declined once the upgraded versions have been issued, although they had been already declining ahead of the enhance (Graph 6). Detections for your $five and $10 banknotes also declined immediately after their enhance, albeit from lower bases. Graph six 1 possible clarification for This might be that as the share of NGBs in circulation – generally known as the NGB saturation charge – rises, it results in being tougher to go counterfeits from the previous banknote sequence (as These are rarer and attract far more scrutiny). To examine this prospective romance, we conducted correlation Evaluation, focusing on the $20, $50 and $100 banknotes, as the upper denominations are focused by counterfeiters in Australia. A simple scatter plot reveals that as NGBs in circulation are becoming additional common relative to the aged collection, copyright detections have been reduced than before the upgraded version was issued (Graph seven). Graph 7 Although these benefits propose that counterfeiting is negatively correlated Along with the new banknote enhance, there might be other variables driving the decline in counterfeiting with time, such as: regulation enforcement shutting down various counterfeiting operations; much less banknotes getting used for transactions, indicating a lot less counterfeits must be detected; and recent COVID-19 lockdowns lessening prospects to pass copyright banknotes.