Counterfeiting decreases 20% in Australia in 2017/18
21 November 2018
Following the introduction of Next Generation Banknotes on CCL Secure’s Guardian™ polymer, Australian counterfeiting rates have dropped significantly in 2017/18.
In 2017/18, around 26,000 counterfeits with a nominal value of AUD$1.7 million were detected in circulation, equating to around 16 counterfeits detected per million genuine banknotes. These figures represent a 20% reduction from the previous year.
The $50 was the most counterfeited (59% of the total), followed by the $100 (37%).
These numbers are expected to decrease further with the new $50 issued this October, and the new $20 and $100 launching in following years.
The new Next Generation Banknote family on Guardian™, including the new $5 and $10 issued in 2016 and 2017, features a complex top-to-bottom window and a number of other additional security features. The notes are easy to authenticate but extremely difficult for a counterfeiter to replicate.
Australia’s level of counterfeiting remains relatively low by international standards, largely thanks to the high-security Guardian™ banknotes, as well as the Reserve Bank of Australia’s diligence in currency management and work with law enforcement agencies.
Across every market in which Guardian™ polymer has replaced paper, counterfeiting rates have dropped dramatically when first introduced. The technology behind the Guardian™ substrate, as well as the embedded and printed security features, present major challenges to would-be counterfeiters.
Central bank data tells similar stories in New Zealand, Mexico and Canada in the subsequent years after introducing Guardian™ polymer notes.
CCL Secure’s Head of Product and Design, Tim Berridge, said: “It’s no secret Guardian™ polymer is incredibly secure. When central banks switch from cotton paper to our polymer substrate, or when they upgrade their banknotes with the latest security feature technology, we always see counterfeit rates fall.
“At CCL Secure, the R&D, design and PolyTeQ technical support teams all work together to ensure Guardian™ is leading the way for banknote security.”
Reserve Bank of Australia Annual Report 2018
Bank of England
Billetaria April 2009, October 2012
Cash Management Association
Bank of Canada’s ‘Statistics pertaining to counterfeit Canadian bank notes’