'Black money scam' warning
POLICE from the Gold Coast Criminal Investigation Branch are warning members of the public not to be fooled by a type of fraud known as the black money scam.
The warning follows two recent arrests on the Gold Coast for attempted fraud, where it is alleged two men attempted to make money by performing a trick with currency, giving the victim the perception that negative currency notes could be transformed into genuine-looking currency notes.
The scam works with offenders coating money in glue or a chemical which stops the money from being coloured when black ink is applied to it.
There is no chemical transfer when one note is washed over the top of another - the black colouring is simply washed off when the victim washes the money in a bowl of water.
The victims are drawn into the scam and believe the black money is taking on the colouring of real money.
Police urge members of the public not to be fooled by cheap tricks.
Scams can be reported via the 'report a scam' page on SCAMwatch or by calling 1300 795 995.
