To counterfeit a gaming chip is not rocket science and with modern technology, can be done easily enough. This is why more casinos are switching to RFID at least in their larger denomination chips (not to catch cardcounters).
In another field I saw very obvious counterfeits begin coming from China a few years ago that have improved so much in the past few years that can easily fool any novice and a few so called experts. Not saying these came from China as they could have easily been made right in Austrailia, but to date China has turned a blind eye to counterfeits of non Chinese things.
It's soon going to be only marginally harder to counterfit rfid chips, though for these kind of operations it's probably not worth the extra expense. I mean, for ~$50k gained with lots of work and huge risk, it seems silly.