Ellie Marin has banned accepting $100 notes after a spate of fake ones slipped past her staff. (Source: @elliemarinofficial/TikTok/Instagram)
An Australian small business owner now refuses to accept $100 notes after several customers used fake cash. Ellie Marin operates several food trucks, a burger restaurant, and an ice cream shop in Melbourne, and each one has received counterfeit money.
She told Yahoo Finance that while some of the notes were obviously fake, two were much harder to spot as they had embossed clear windows that appeared legitimate. It can be a huge loss for businesses as they don't get reimbursed if they hand the forged money to authorities.
"These customers come in and they buy a few cans of Coke, then they get $92 change in real money. So they just use us to wash the money, and the frustrating thing is, they use very small businesses like mine," she said.
Marin suspected they had targeted her recently because one of her food trucks was in the popular Preston Markets.
The lunch period can get very busy, and she thinks shady characters wait until the rush hits its peak to pounce.
"They can see there are only two staff there," she said.
"They're run off their feet, and this might only be for 10 minutes of each day, but they wait for that exact moment, and then when the pressure is high, they'll come in with their fake note.
"It's almost like attacking the little guy. It's very targeted, very cunning, and very manipulative."
Do you have a story? Email stew.perrie@yahooinc.com
There are certain machines that big retailers use that can determine whether a note is fake, but Marin said they can cost thousands of dollars, which isn't in her budget.
After posting about her $100 note ban on social media, the small business owner was flooded with comments from people who had been duped by fake $50, $20, and $10 notes, which "freaked her out".
She would be open to banning other denominations in the future if she came across enough of them.
Staff at Melbourne restaurant Cosi Bar Ristorante were fooled by fake $50 and $100 notes last year on two separate occasions.
Owner Omar El Deek told Yahoo Finance he was furious when he discovered the counterfeit money.
"We have so many people, it’s very busy," he said. "The number of customers who pay in cash is very low and obviously, the staff are not trained to handle a lot of cash any more. They just take the cash and put it in the register.
“I never thought this could happen in Australia. In Italy, it happens sometimes, but I thought it was a European thing with the Euro. Usually, it’s the five and 10 Euros."
Omar El Deek, who runs Cosi Bar Ristorante with his business partner Giacomo Pietrantuono, said he was angry to be scammed twice by forged notes. (Source: Supplied)
Where is the fake money coming from?
Counterfeit cash can come from all sorts of places, with some people even brazenly selling it on social media.
Facebook Marketplace had several listings showing piles of $50 and $100 bills, with a seller telling Yahoo Finance they would work at Coles and Woolworths.
They added that the money could be shipped within two days after a payment using cryptocurrency. A wad of $3,000 worth of fake bills would set you back $250.
The Australian Federal Police told Yahoo Finance it was monitoring reports of counterfeit currency being "sold or transferred for Australian use" and warned those guilty of crimes associated with the possession or use of fake money could face a fine of up to $2,000, or 12 years behind bars.
Some of the fake notes can also come from movie or TV production sets.
Tasmania Police found a counterfeit $100 note that had the words "for motion picture use only" and "this is not legal tender" emblazoned on one side.
Tasmania Police have shared a counterfeit $100 note that's been circulating and there's an easy way to spot it's fake. (Source: Facebook)
The state's authorities recently made an arrest.
“As part of ongoing investigations into counterfeit notes circulating, late last week police in northern Tasmania charged a 22-year-old man from Invermay with multiple counterfeit money related offences,” Detective Acting Inspector Aziz Melick said.
“A further seven people in northern Tasmania have also been proceeded against by police in relation to counterfeit money offences in August.”
How can you tell if a note is real or fake?
One of the quickest ways to determine if a note you're carrying is counterfeit is how it feels.
Marin said some of her fake $100 notes were printed on material very similar to real currency, but the others just felt like plastic.
"A suspect banknote may feel excessively thick or thin compared to a genuine banknote," the Reserve Bank of Australia (RBA) said.
"It is difficult to start a tear along the edge of a genuine banknote. You can also try scrunching the banknote in your hand – a genuine banknote should spring back."
But Australian currency also has a variety of security features that you can check against:
Clear window: This area of the note has different designs depending on the value. Check that the white ink can't easily be wiped off with your finger for older notes. Newer notes will have a clear window that runs from the top to the bottom and will have various holograms that move printed in the section.
Look for the star: There are diamond-shaped patterns printed inside a circle on both sides of an Aussie banknote. If you hold the banknote up to the light, the patterns should line up perfectly to form a seven-pointed star.
Coat of Arms: There's also a Coat of Arms that's hidden on the note to the naked eye, but if you hold the note up to light you should be able to see it.
Dark print: The note denomination on old notes will have special raised ink that can be felt with your finger.
The RBA said if you're still unsure, you can take the money to the Australian Federal Police, who will be able to use their sophisticated machines to work it out.
