There are many cases of counterfeit banknote appear recently in the market. A local newspaper reported a couple was caught by police for depositing the fake banknote into ATM machine and later withdrawing it through another ATM machine. Ironically, some of these counterfeit banknotes were identified as new series of RM50 note.
According the Bernama, cases of counterfeit banknote in the country is still low and under control, especially involving RM50 notes, with only 13 notes found per million Ringgit. The Finance Department informed that 48,555 counterfeit notes were detected and reported to Bank Negara Malaysia (BNM) from 1 January 2009 to 30 September 2009.
The international guideline says that if the counterfeit money reaches 20 pieces per million issued, it can be considered serious. Only when that happens will the situation need to be rectified and safety measures implemented immediately.
Eventhough we have yet to reach the critical mark as highlighted above, the government and BNM are taken several measurements to improve the security features of the notes. This includes the new series of RM50 note that has equipped with high technology security features to make it difficult to falsify.