David Bailey has stepped up as interim chief executive of Australian Finance Group. Bailey is CFO of AFG, and is a strong contender to take the CEO role permanently. CEO Brett McKeon is to "step back from his full time executive role" but "remain on the AFG board as an executive director with a focus on advocacy and support of AFG's broker network," the company said on Friday. AFG chair Tony Gill said a "formal recruitment process assessing both internal and external candidates to determine the next CEO," would be held. Gill also said that Bailey was "a strong internal candidate for the CEO position." A counterfeiting ring "has begun flooding the city" of Melbourne "with high-quality forged bills," The Age reports. The fake bills have the same feel as the polymer notes, and include the clear window with a lyrebird, though each has the same serial number: "AI 13933231".