AAP
Counterfeit notes rise in 2013/14: RBA
Over $1 million of counterfeit bank notes were detected in circulation during the last financial year.
The Reserve Bank's annual report released on Thursday shows a total of 18,657 notes were discovered during 2013/14 with a nominal value of $1,083,680.
It equates to just around 15 counterfeits per million genuine banknotes in circulation.
The majority of counterfeits were in $50 and $100 notes.
"Although this represents an increase in counterfeiting activity from recent years, the level of counterfeiting remains low by international standard," the RBA says.
In its 2012/13 report the RBA estimated there were 12,125 counterfeit notes found worth $730,700.
