I found this article very interesting about the state of counterfeiting in Australian dollars.
I tend to agree with the writer that small business with small profit margins is most at risk, how much for example does a lotto dealer have to do to make up of accepting one counterfeit $100 dollar.
The problem is now getting worse as the counterfeiter have now solved the problem of duplicating the polymer note. What did surprise me is that the problem is so high in Western Australia!
The main problem that SMB retailers face is if one of their staff has access to counterfeit dollars, and say they can buy it at 70% of face value. They then can replace say six $50 in the till every day with the counterfeit stuff. It is almost impossible to find out as no retailer checks what goes out only what comes in.
Anyway, have a read here, and I would love to hear your comments.
