Banknotes of the World – №4/2017

GOZNAK REVEALS SECRETS

Last February, the Scientific and Research Institute of Goznak held the Scientific and Practical Conference on «New Developments in the field of security of materials and processes» where Goznak’s specialists delivered to expert community information on their current technologies concerning banknote production and other security printing products. It was the 7th annual meeting hosted by the think tank of Goznak gathering over 200 experts of the currency industry and from other walks of life that had a chance to learn about latest breakthrough innovations of Russian scientists and practioners. Of course, the list of in-house innovations announced by Goznak was from being full, but, nevertheless, the delegates had an opportunity to see some technologies that the general public hadn’t seen before. The conference delivered very relevant discussions, as Goznak’s events are always in the spotlight. This article will give an overview of some presentations of the conference accompanied with the opening remarks by Head of the Scientific and Research Institute Georgiy Kornilov.

COUNTERFEIT DETECTION IN EUROZONE AND RUSSIA

Earlier this year, some European central banks and the Bank of Russia released last year counterfeiting statistics. Figures of counterfeiting in the eurozone and Russia signal a relatively small amount of fake banknotes and coins detected in comparison with the total money stock, revealing the preferences of European and Russian forgers. According to the ECB’s press-release, 353,000 counterfeits of different denominations were withdrawn in the second half of 2016, a little increase compared with the first half, but considerably less by 20.7% than in the same period of 2015. «Against a backdrop of increasing money stock which reached over 19bn in the second half of 2016, the number of counterfeits remains at a low level,» says the ECB in its’ press-release.

MIR CARD: WHEN AND WHERE?

There are more questions than answers, although the process is gaining momentum and it is not likely to stop. These are the appropriate words to describe the most important event for Russian banks – the introduction of the National Payment System Mir, whose main goal is to ensure the financial sovereignty. Following sanctions imposed by the United States, the European Union and some Western countries against Russia, which no one intends to cancel yet, some international payment systems, operating in the Russian market, had to join these repressive measures, which showed a rather painful vulnerability of the domestic banking system. That was the moment conducive to the political and then legislative decision aimed at creating a national payment system operated by the Joint Stock Company «National Card Payment System» (NСPS), which is 100% owned by the Bank of Russia.

USA: WHICH BANKNOTE TO FEATURE HARRIET TUBMAN?

For several years, the United States has been seeing animated debates on introducing a woman’s portrait on dollar notes. This is not just an ordinary portrait, but an image of an Afro-American woman. To the delight of numerous supporters of this idea, the Department of the Treasury of the U.S. headed by Jack Lew announced last summer a new 20-dollar bill will feature an image of Harriet Tubman known for her struggle against slavery and social disparity. It might have seemed that the issue was exhausted. However, the U.S. presidential elections appear to tip the balance, with the confidence of those who thought this matter resolved having been staggered. Even during the election campaign, Donald Trump bluntly took his stance against placing the image of Harriet Tubman instead of the U.S. 7th president Andrew Jackson on a $20 note. «Well, Andrew Jackson had a great history and I think it’s very rough when you take somebody off the bill», said Donald Trump in an interview to NBC.

CASH CYCLE SEMINAR IN NAIROBI

In February 2017, a diverse cross-section of stakeholders involved in the circulation of banknotes and coin gathered in Nairobi, Kenya for the 2017 Middle East & Africa Cash Cycle Seminar (ICCOS). The event is organized by Currency Research (CR). This was the first Cash Cycle Seminar held in Africa and CR welcomed over 60 organizations from approximately 30 countries. Every element – the workshop, general sessions, and sponsor breakout meetings – provided useful insight for attendees, which included representatives from Central Banks, cash management/logistics companies, retailers, software and hardware solution providers, and cash industry associations.

COUNTERFEITERS ATTEMPT TO IMITATE SPARK®

RUB 5000 counterfeit banknote of the Bank of Russia of 1997 (modification of 2010) with imitation of SPARK® and dynamic effect

A new type of RUB 5000 counterfeit banknotes of 1997 (modification of 2010) of the Bank of Russia was withdrawn from circulation in Russia. The serial numbers: АБ 5793534, АБ779ХХХХ, АК739ХХХХ, АК339ХХХХ, ЗБ5393659.

For the first time, counterfeiters managed to obtain an unprecedented high-quality imitation of SPARK®.

Banknote requisites: serial number – АК 73935663