Fake $50s link to Sydney raids

POLICE say the discovery of fake $50 notes on the Coffs Coast could be linked to raids in Sydney last week.

Three large commercial printing machines, more than 800 counterfeit $50 notes and cocaine worth $1.05 million were uncovered when police swooped on properties in Sydney’s eastern and south-western suburbs.

Six men were arrested in Sydney and one in the United States as police dismantled an organised crime syndicate with links to bikie gangs.

Coffs/Clarence crime manager, Detective Inspector Cameron Lindsay, said there was “a distinct possibility” these activities were linked to the circulation of counterfeit $50 notes in Coffs Harbour.

“We allege that someone from Sydney has come up and used fake $50 notes to buy a car in Coffs Harbour,” Det Insp Lindsay said.

“We are warning shopkeepers and residents to be vigilant. Some people have already attended Coffs Harbour Police Station and handed in $50 notes suspected of being counterfeit.

“The notes have been seized and will be sent for forensic examination.

“If a member of the public suspects a bank note to be counterfeit, please report it as soon as possible. If you are caught knowingly distributing counterfeit cash you can face legal consequences.”

The Reserve Bank says while Australia’s counterfeiting rate is low, the following guide will help you spot a fake:

  •  genuine bank notes have a clear window and the area around the window is uniformly smooth to touch;
  •  within the windows are printed images or patterns and in all banknotes (except the Queen $5) there is embossing that is only visible at certain angles;
  •  a genuine bank note is printed on polymer (plastic) and has a distinctive feel;
  •  it is difficult to start a tear along an edge of a genuine bank note, and;
  •  genuine bank notes have multi-coloured, fine line patterns appearing on each side.

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