Well, looks like not many do. At least when it comes to the Malaysian Ringgit.

According to a report by Malay Mail, only one in one million notes in Malaysia are counterfeit.

This is a lot lower than countries like United Kingdom, at 128 notes per million, the Euro at three in a million and Australia at 17 pieces per million, deputy finance minister Datuk Amiruddin Hamzah reportedly said at the parliament.

He made the statement to illustrate that the counterfeit money issue in the country is still under control.

Considering that there's a lot more than just a few million notes are out there at one time, it's still a good idea to know how to identify counterfeit money.

How to check if your banknote is fake

According to Bank Negara Malaysia, there are a few things you can keep a look out for when checking for fake money.

The first thing is the feel of the paper. Genuine notes are printed on very high quality paper, so if it looks and feels like your slightly more expensive A4 paper, it's likely a fake.

The printing on the notes are also a little bit raised, so even if you close your eyes and feel it, it's likely that you can identify the raised prints even if you can't tell what they are.

Look under the light. A genuine note will have watermark portrait, security thread and perfect see through features.

"A watermark portrait of Yang DiPertuan Agong has three dimensional effect and appears soft and shady without sharp outlines portrait. At the base of watermark a denomination number is clearly visible," BNM said on their website.

The security thread will always look a bit sunken, like it's embedded into the note. The hibiscus on both sides of the note will also be aligned.

If you are high-tech enough to have UV lights around, place the note under the light and you will see extra features that'll become visible.

In the unlikely event you receive a fake note, take note of who gave it to you, try not to touch it too much by putting it in an envelope, and make a police report.