Sydney, Feb 9: As the Chinese New Year approaches, the Australian Federal Police (AFP) issues a caution to retailers regarding a potential rise in counterfeit currency circulating in the market.
The AFP emphasizes the need for vigilance, especially during this festive season, as counterfeit cash, including ‘joss paper’ and Chinese Training Notes, may be mistaken for legitimate Australian currency.
While these counterfeit notes are commonly used in traditional Hell Bank Money ceremonies and Chinese New Year festivities, it is illegal to attempt to use them as legal tender.
Detective Sergeant Peter Comatas of the AFP stresses the importance of distinguishing between imitation notes and genuine Australian banknotes, noting that tens of thousands of dollars’ worth of joss paper has passed through retailers and licensed venues in recent years.
To help identify genuine currency, the Reserve Bank of Australia provides checklists outlining security features present in Australian banknotes.
Genuine Australian currency is made from durable polymer materials, whereas counterfeit currency is typically paper-based.
The AFP collaborates closely with the Reserve Bank of Australia (RBA) and other law enforcement agencies across states and territories to combat counterfeiting threats.
While importing joss paper for cultural purposes is not illegal, the community is reminded that the importation, sale, possession, and use of counterfeit banknotes with the intent to deceive retailers constitute criminal offenses under the Crimes (Currency) Act 1981.
This warning aims to safeguard retailers and the public from falling victim to counterfeit currency scams during the upcoming festive season.
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