“Banknotes of the World” №2 2017

NEW DANGEROUS TYPE OF $100 COUNTERFEIT BANKNOTE OF 2006

The Department of Cash Circulation of the Bank of Russia reports that a new dangerous type of $100 counterfeit banknote of 2006 was seized in the Moscow region. The requisites: AF 0975622B, H1, H41, 116; AG 19118896G, С1, С270, 145; FA 08516369A, H1, H41, 116; HA 46317505 A G1, G55, 125, etc. The counterfeit banknote is manufactured on a toned duplex paper substrate, with a paper grid structure being imitated by embossing (Fig.1). The bill has no blue background luminescence when exposed to UV light. Strength and crisp observed make it similar to a genuine one. Security fibers of red and blue are imitated by overprint both on the face and back.

INNOVIA SYSTEMS DEVICES COME TO RUSSIA

CJSC PPC INTERCRIM-PRESS – official dealer of Innovia Systems – has announced its plans for the Russian banking community and those who deal with cash that, as of 1 January 2017, Innovia Systems is to start delivering to Russia demonstration samples of devices designed to detect characteristics of Clarity C film, the base material for Guardian polymer banknote substrate. It concerns only Verus banknote authentication devices, with further range of products aimed at cashiers being expected to grow larger. Verus H and D devices do not miss original design and elegance at all, with their key advantage of course – ease to use and immediate confirmation. Quick, simple and clear: if a note is genuine, Verus will display a green light, if counterfeit – a red one accompanied with an audible alert.

«BANKNOTE BUSINESS » À LA PERU

Our magazine has already written twice on seizing of counterfeiter gangs in Peru producing a huge amount of U.S. dollars (See BoW September and October 2016 issues). Furthermore, our experts were able to give a visual analysis of the Peruvian fakes, describing their quality as quite mediocre, although some Western media and even officials are consistently callling them «the best fake dollars in the world». It would seem that everything is clear but we think it would be necessary to get back to it again, and we will explain you why. At the end of November and beginning of December in 2016, when the issue went to press, the US Secret Service has released an official press release on a large scale seizure of counterfeiters in Peru, followed by a wave of publications in the Western media on this matter revealing interesting new details about «Peruvian banknote business».

DEMISE OF CASH? NOT IN YOUR LIFE!

Will cash disappear from our daily life? Many advocates of future victory of latest technologies fully believe in such things. As was found by BBC reporter Rose Eveleth, the truth is far more complicated. Somebody might seem that her thoughts on cash cycle miss professionalism and aren’t expert. Well, it may be so. However, Rose Eveleth’s thoughts are much alike many ordinary people think about it – simple, clear and easy-to-understand.

INDIA: ANOTHER TRY TO CURB CASH

On the night of 8-9 November 2016, India saw its financial reform. We have already reported (BoW December issue, 2016) on a sudden and strong-willed decision of the country’s prime minister to withdraw from circulation the 500 and 1 000 rupee banknotes, which were exchangeable for the new 500 and 2 000 denominations until 30 December 2016. This decision was officially motivated by the need to combat corruption and the shadow economy. This move was officially explained by a crackdown on corruption and illegal cash holdings. However, it becomes clear that it is more about a large-scale reform of India’s payment system mainly aimed at curbing the use of cash in favor of non-cash instruments.

The currency reform in India pursues one important goal not announced by the authorities – driving India’s population into the banking system limiting the use of cash. The last reform on cash was introduced in 1978 in India. At that time, the 1 000, 5 000 and 10 000 rupee banknotes were withdrawn from circulation. An important attempt was made to restrict the use of high denominations as a store of value and to force citizens to use banking services. However, people in India got used to rely on cash, not only for transactions, but also as a means of wealth accumulation.