A recent investigation revealed that one lot of fake $50 noted has been used 760 times around Australia.

How can you recognise a real note from a fake one? We’ve put this guide together in a bid to stop you getting ripped off.

Scrunch the note up, if it’s genuine it will spring back into shape. We are fans of the Aussie plastic notes, they even survive the accidental washing machine test. You know the one, when you through your pants into the machine without checking your pockets.

The Australian coat of arms is always visible and so are diamond-shaped patterns when the banknote is held up to the light. If you can’t see them, then it’s definitely a fake.

Also when holding the banknote up to the light, a seven-pointed star should line up perfectly on both sides.

Finally check that the white image printed on the clear window cannot be easily rubbed off.