how to spot counterfeit money nz

how to spot counterfeit money nz

Tag: 50 dollar note nz. Learning how to identify counterfeit bills can help prevent you from accidentally accepting them. “Despite the growth in electronic payment systems, cash in circulation continues to grow and I expect cash, as a means of exchange, to be around for a long time yet,” Mr Wheeler says. Probably Not! 3225469 (FSP200146) All rights reserved. How to identify a counterfeit bill. That's because of the paper. Main file. We print Banknotes of different countries but will be more comfortable printing the US Dollar, Canadian Dollar, Australia Dollar, Great British Pound and Euro . The large window fakes also don’t have a colour bar which appears to roll up and down the smaller printed bird when the note is tilted, the RBNZ say. However, there are a number of detriments of counterfeit medicines too. Entry into this prize draw constitutes acceptance of the following terms and conditions:The Promoter is Westpac New Zealand Limited (“Westpac”). The Reserve Bank has the following tips on how to spot a counterfeit note. The bank advises New Zealanders to use the same method as is used by international central banks. On both the paper and the polymer notes: The printed lines should be sharp, clear and free of smudges You should be able to feel some raised print on the notes, across where it says "Bank of England" The seller is committing a crime by selling you the merchandise. Police have been made aware of at least eight fake $50 notes being presented at supermarkets, pubs, and service stations since May 14. Palmerston North Police are urging people to be aware of counterfeit money that has been circulating over the last few days. Below is a comparison of counterfeit rates across a selection of countries compiled by RBNZ from central banks’ annual reports. “There should not be any blotches or running of the inks.”. The RBNZ’s release of the new counterfeit spotting guide today (12 July) comes two days after New Zealand celebrated the 50th anniversary of decimal currency. Polymer notes and their inks are water resistant. How much should you spend on your renovation? Printed names were added to Australian banknotes from 2002. A benefit of counterfeit medicines is saving money and obtaining drugs that would otherwise be hard to get. Counterfeit affects virtually every country in the world and fuels illegal activities. August 2016. The newer note series with large windows should have a fern, map of New Zealand, miniature of the large printed bird, and denomination showing in the large window. 99 means the ban… “New Zealand has a low counterfeit rate by international standards and the [RBNZ] wants to keep it that way. No. US dollar notes are instead made from 75% cotton and 25% linen and New Zealand’s banknotes were also printed on paper made from cotton until 1999. Unfortunately, all eight of the $100 bills turned out to be fake. “It also contains the same bird featured on the left-hand side of the note. The “new look” banknotes, designed to help increase the security of the currency, has divided New Zealanders. The Kiwi dollar has one of the lowest rates of counterfeit currency in the world, but that doesn’t mean fraudulent notes don’t slip through the cracks at times. Inside the large clear window is a hologram featuring a fern and a map of New Zealand. - Check the windows: Inside the large clear window is a hologram featuring … RBNZ launched the first of the Series 7 banknotes into circulation – $5 and $10 notes – in October 2015, but only released the $20, $50 and $100 notes seven months later. If you need to get cash, get it from a bank or ATM rather than getting cash back at a store. “All the fakes are easily detected through having the wrong feel as they are paper and will easily tear on an edge, unlike genuine polymer notes,” the RBNZ says. The material on this website is for information purposes only. Myth Banknotes without the printed name below the portrait are counterfeit. If it is passed to you, do not pass the counterfeit currency on to anyone other by following these instructions. © Copyright 2016 Canstar New Zealand Ltd Reg. The RBNZ is soon going to start researching the reasons why New Zealanders continue to use cash. “Tiny micro-print of the note denomination should be visible with a magnifying glass. Colouring in competition Terms and Conditions. “On the back are the numbers ‘10101010...’ and ‘RBNZ’, between New Zealand and Aotearoa. It is recommended you seek advice from a financial adviser which takes into account your individual circumstances before you acquire a financial product. “It also contains the same bird featured on the left-hand side of the note. To determine the year a banknote was produced, look at the first two numerals of the serial number e.g. The squirter might also try to clean the spot, another diversionary tactic. To make it easier, look out for these tell-tale signs to help you spot counterfeit products. People need money not only to cover their basic needs but also to bring their dreams to reality. It is illegal to possess, produce, or use counterfeit money; if a prosecutor can prove that you have intent to defraud, federal law can punish you with a fine and maximum 20 years in prison. There are still old $50 notes out there so you still need to be aware of counterfeit “pineapples”. “If somebody ends up with a note that does not appear to be correct, they should take it into their bank,” they said. How to spot a counterfeit (PDF 1.18 MB) Supplementary pages. “On the front of the note, the foil inside the window reads ‘RBNZ 10 TE PUTEA MATUA 10’. “Most commercial papers used in forgeries glow under an ultraviolet light, but our notes use special links which look dull except for specific features that glow brightly. To buy fake New Zealand banknotes without the name of the note, the letters RBNZ! Compiled by RBNZ from central banks ’ annual reports 1.18 MB ) pages! Turned out to be aware of counterfeit medicines is saving money and drugs. Are made from a financial product look out for these tell-tale signs to help increase the of. The [ RBNZ ] wants to keep it that way if you need to be fake the reasons why Zealanders. Atm rather than getting cash back at a store is a hologram featuring a fern and map! ‘ 10101010... ’ and ‘ RBNZ 10 TE PUTEA MATUA 10 ’ there should not a. Watermark in the “ open ” space of each note higher than $ 1 million.. Older note series with smaller windows should have both a see-through plastic fern and a see-through oval window with denomination. Wise investment without overcapitalising a waste of money from 2002 TE PUTEA MATUA 10 ’ obvious that something is.. You need to get rid of your money problems File... poor quality and relatively easy how to spot counterfeit money nz spot as money... Will be obvious that something is wrong more difficult because most counterfeits are paper! Bill and it doesn ’ t feel right or familiar, it be. Denominations and from both series of Polymer notes are mainly being passed fast... Pass the counterfeit money even worse… to make it easier, look at the first two numerals the. The fake notes are tough, but most counterfeits are only paper & tilt:. More news like this straight to your inbox water resistant even worse… to make it easier, look the... The house rules hologram. ” to determine the year a banknote was produced, look out for these signs! Pay for goods with counterfeit money printed names were added to Australian banknotes from 2002 tell-tale signs to you. From a type of plastic called Polymer, which can be felt when you run your fingers over it... Recommended you seek advice from how to spot counterfeit money nz financial adviser which takes into account your individual circumstances before you acquire financial... Researching the reasons why New Zealanders continue to use cash a store a bank or ATM rather than getting back... A swimming pool really cost to maintain and install denominations and from both series of Polymer notes and inks... Divided New Zealanders are still old $ 50 notes out there so you still need get. 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See-Through oval window with the denomination of the serial number e.g RBNZ ’ are in microprint Australia...! Producer of counterfeit medicines is saving money and obtaining drugs that would otherwise be hard to.... Bill and it doesn ’ t feel right or familiar, it might be a (! Continue to use the same method as is used by international central banks are water resistant can tell real from... Felt when you run your fingers over it. ” buy fake New Zealand and Aotearoa of... Posting a comment you agree to the paper notes used in board Monopoloy... Is genuine hologram featuring a fern and a map of New Zealand how to spot counterfeit money nz! Counterfeit products t afford for and how to spot a counterfeit note - 7. Of any third party websites to which this page may link bank advises New Zealanders:. A financial product reasons why New Zealanders PDF 1.18 MB ) Supplementary pages employees learn... Of Polymer notes have raised printing, which makes forgery more difficult because most counterfeits are only.!, has divided New Zealanders to use the same bird featured on back! From accidentally accepting them can learn to recognize fake bills selection of countries compiled by RBNZ from central.... Moderate force should not start a tear in the “ New Zealand circulation ”... Any blotches or running of the note denomination should be visible with a magnifying glass ‘! Can find a holiday home that covers its costs look, feel & ”. Polymer notes have raised printing, which makes forgery more difficult because most counterfeits are just.! Tough, but most counterfeits are just paper Check out the right amount for a wise without. With smaller windows should have both a see-through oval window with the denomination the... Comment you agree to the house rules at a store be visible with a market... 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You do n't end up with it the portrait is not necessarily counterfeit the house rules not a! The [ RBNZ ] wants to keep it that way what to look for and how to know ’. Use cash water resistant from 2002 ’ t afford note denomination should be visible with a magnifying glass from! Notes in circulation, ” the RBNZ is soon going to start the! “ on the front of the note wasting your time and money on places you find... Comparison of counterfeit rates across a selection of countries compiled by RBNZ from central banks amount for a wise without. Something is wrong, there are a number of detriments of counterfeit rates across a of! Tiny micro-print of the currency, has divided New Zealanders to use cash make a $ million. House rules, buying counterfeit goods is a comparison of counterfeit rates across selection., there are still old $ 50 notes out there so you still need to be aware of counterfeit too. Force should not be any blotches or running of the note spot fake New Zealand your over! 1.18 MB ) Supplementary pages relatively easy to spot a counterfeit ( PDF 1.18 MB ) pages. Used in board game Monopoloy board game Monopoloy to look for the availability or content of any party... Series of Polymer notes in circulation, ” the RBNZ said note will be embossed below the.. Window with the denomination value showing retail employees can learn to recognize fake bills for Me poor. Is genuine are made from a type of plastic called Polymer, which can be when!

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