The Australian Tax Office (ATO) issued an advisory on Thursday warning the existence of near-perfect counterfeit cheques that currently circulates across the nation, supposedly under the auspices of the tax office and the Reserve Bank of Australia (RBA).

The ATO said that the counterfeits were almost perfect and would generally escape scrutiny by the naked eye as it added that the cheques were usually sent to universities and proximate from foreign sources supposedly to cover advance payments.

ATO Commissioner Michael D'Ascenzo reminded the public that the counterfeit cheques would look real and feel authentic, stressing that "only after being put through a fluorescent scanner are they revealed to be fakes."

In the same statement, the ATO cited as an example of a cheque made out for a few thousand dollars that deliberately overshoot a specific rent payment.

The mailed cheque was with a letter that gives instructions on the how balance could be returned to the sender using the transfer facilities of Western Union.

Mr D'Ascenzo said that such letters bearing the unusual request should be given serious attention by the receiver as cautioned the public at the same time "to be diligent and alert to scam behaviour."

He also stressed that any party receiving such correspondence should call the attention of the government, pointing out that "if you feel something is suspicious alert the ATO or other federal authority as soon as possible."