Encrypted messaging app Telegram has turned into an outlet for the sale of counterfeit currency with advertisers pushing the use of illegal notes in everyday transactions.
Banking Day’s attention has been drawn to the fact that various public channels, which can be accessed by any Telegram user, offer currency for sale and then delivery by courier.
It is one of several illicit activities that can be found on Telegram - a platform renowned as the home of extremists of various flavours, gun dealers and drug pushers.
Protesters against the Victorian lockdowns have also used the application to share news, advise the dates and locations of protests, and provide directions on the day of a demonstration.
One public channel flogging fake currency attempts to sell its funny money by framing it as another way of people achieving their dreams.
“You may spend your whole life trying to earn enough money for your dream. With Distinguished Counterfeit, you do not have to wait that long,” the funny money sellers state.
“Today is the perfect day to turn your dreams into reality with our cheap fake money.”
Not only do the counterfeiters seek to tempt people with the notion of achieving their dreams, they also encourage people to use the fake currency in retail outlets, clubs and casinos.
A lack of a capacity for self-promotion is not a problem for these encrypted app dwelling spruikers.
“We use only sophisticated equipment to produce fake money for sale that looks like genuine. We employ the best artists and printers, people who have been in the system for years and decided to go against it,” the advertisement says.
“Our workers know all ins and outs of printing real money, that is why you can rest easy knowing that counterfeits in your pocket have the same value as the original money.”
These public channels will typically offer people tempted to risk using counterfeit currency a private Telegram account to communicate to take their purchase of fraudulent notes a step further.
Courier delivery is advertised on several channels selling counterfeit with one channel that “we will deliver fake money on time”.