Police are reminding the community that possessing counterfeit banknotes is an offence and urging anyone who comes across suspect currency to report it immediately.

Authorities have warned that counterfeit notes have no value and victims will not be reimbursed if the notes prove to be fake.

However, if banknotes are found to be genuine, full value will be returned.

What to do if you suspect a counterfeit note: Anyone who comes across a banknote they believe may be counterfeit should handle it as little as possible and store it in an envelope.

Police advise people to note any relevant information about how the banknote came into their possession before reporting the matter immediately to state or federal police.

Members of the public have the right to refuse to accept a banknote if they have concerns about its authenticity.

Police have emphasised that under no circumstances should people take actions that may jeopardise their own safety or that of others.

Suspect banknotes should be handed to state or federal police for examination. More information about counterfeit detection is available on the Reserve Bank of Australia website at banknotes.rba.gov.au/counterfeit-detection/counterfeit-detection-guide/