If the design were more minimalist, they would be easier to counterfeit.
Just look at Canada, Australia, or even Mexican plastic currency. These are nowhere near as bad but are just as secure.
Canada: https://upload.wikimedia.org/wikipedia/en/9/92/Canadian_Fron...
Aus: https://i.pinimg.com/originals/d3/91/b8/d391b8dafd8c60277a81...
MX: https://www.inside-mexico.com/wp-content/uploads/2015/08/Fot...