Popular South Yarra restaurant hit twice with counterfeit banknotes
As the cost of living crisis bites hard, restaurants are suffering, however, one Italian restaurant is being hit harder than others.
The popular Cosi Bar Ristorante in Melbourne's South Yarra has twice been hit with counterfeit banknotes.
Owner Omar El Deek has been dudded twice in two weeks with fake $50 and $100 notes which were good enough to fool staff.
"We have so many people, it’s very busy," he told Yahoo Finance. "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.”
Staff noticed the dodgy notes only hours after receiving them.
El Deek has not only warned other businesses on the strip, but has also bought a machine to test for counterfeits.
“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.
“My staff believes the customers were unaware they used fake notes and didn’t try to scam us, hence why I believe the notes were already in circulation. I wanted to raise awareness in the community.”
El Deek said the fake $50 note had a slightly different feel, with imperfections in ink quality.
“I didn’t think this could happen but it’s the opposite because of the (cost of living) crisis,” he said. “People are struggling and crime is going up. It’s scary out there, honestly.”
By law there is no recompense for victims of counterfeit crime, although El Deek said he would report the incident to Victoria Police.
“It is an offence to knowingly possess counterfeit banknotes,” the Reserve Bank of Australia (RBA) said.
“Suspect banknotes should be given to state or federal police. It is important to note that counterfeits have no value – you will not be reimbursed.”
An Australian Federal Police spokesperson told Yahoo Finance there was no significant increase in reports of counterfeit currency over the last six months.
“However, the AFP is aware of a significant rise in posts, pages and advertisements on social media, purporting to sell counterfeit currency,” the spokesperson said. “To date, the AFP is not aware of any instance where a product has been provided from these sources.
“Items or imagery shown is not necessarily a true representation of what is being offered for sale and therefore we currently consider these pages are better characterised as scams.”
Counterfeiting money carries a maximum penalty of 12 years imprisonment.
To check for counterfeit notes, the Reserve Bank of Australia recommends several steps including storing it in an envelope and handling it as little as possible, noting how it came into your possession and immediately reporting the matter to the police.
“You are well within your rights to refuse to accept a banknote if you have concerns about it,” the RBA said.
“Under no circumstances should you take actions that may jeopardise your safety or that of others.”
Jonathan Jackson, 11th June 2024
