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Canada`s Anticounterfeiting Efforts Pay Off
The Bank of Canada`s campaign to reduce the number of counterfeits is paing off, according to its 2009 Annual Report. The numbers have fallen for the fifth year in a row and, from a high of 470 counterfeits per million notes in circulation in 2004, stood at just 45 last year-less than half the target of 100 the Bank had set by 2009. The value of counterfeits also fell-from $6.6 m in 2008 to $ 3.4m. Most odf the counterfeits were $20 and $ 100 notes, and the majority were from the current Canadian Journey series.
The Report also provided an update on the Bank`s currency priorities for 2009 and outlined its new priorities for 2010. The former included the refurbishment of the equipment at its two note processing centres, and the strengthening of the Bak note Distribution System, a redesign of which- including common standards on note and quality and new performance incentives-was agreed with financial institutions and is currently being piloted.
Priorities for the current year include completing the development and preparing for the production of the new note series (issue of which will begin in 2011), completing the communications plan that will accompany its launch , and upgrading the Bank`s IT and physical infrastructure to support the new series.
Is price an issue when choosing a counterfeit detector?
Counterfeit detectors
There are some points to be considered before buying a counterfeit detector even if the price is an important factor to keep in mind.
The main points that can help you choose the right product are as follows:
- Quality:The device needs to be reliable for detection as well as in good working order. It also needs to recognize all notes quickly and smoothly for the user.
It's also important that the notes can be loaded in all four directions.
The product lifespan will depend on the quality of the raw materials, electronic and mechanical components and the software
- ECB Certified: A good detector has to be certified by the ECB in order to detect all European counterfeit notes. In addition, the company should be fully approved by the ECB to test the machines with European notes.
- Upgradable: In order to get the latest updates you should buy a device from a company that is approved by the ECB.
New Banknote Series for Uganda
On 17 May 2010, the Bank of Uganda began circulating a new family of bank notes with the first major design chance in over 20 years.
Thia is particularly significant in that, for the first time in the country`s history a new family of bank notes has been issued for reasons other than political ones. In this launch speech in Kampala on 3 May the Governor of the Bank of Uganda, Prof. Emmanuel Tumusiime-Mutebile emphasised this very clearly when he started : It`s the first time that the Bank of Uganda has, without government intervention, produced its own banknotes. Actually, until very recently the government did not even know that we were engaged in producing this series !
A few decades ago this would not have been the case....
Political Turbulance
The Republic of Uganda-population 32 million- is a landlocked country in East Africa, bordered by Kenya, Sudan, Congo, Rwanda and Tanzania. The country began issuing its own currency in 1996 after gaining independence from Britain. All subsequent, reflect the political turbulance of this era.
The 1973 issue carried the portrait of Idi Amin, who seized power in 1971. He was deposed in 1979 by Tanzanian forces aided by Ugandan exiles , and his portrait on the noteswas replaced with the Bankl of Uganda building. In 1981 a new government came into office, followed by a new series of notes carrying president Obote`s portrait. 1985 saw another change in government an d a subsequent new issue of notes that replaced Obote+s portrait with Uganda`s national emblem
It was finally in 1986 that political stability came to Uganda in the form of President Musevini. The following year the Uganda shilling was revalued , due to Hyper-inflaction, and a new series of notes issued. Over the next 20 years Musevini was to transform Uganda into what has been lauded an economic miracle.Inflation dropped to %5 and %7 growth rate wa recorded in 2008, despite the global downturn. The 1987 banknote series would come to symbolize this newfound stability, lasting as it did for 23 years. it was also the first time that focus shifted to the functional and security aspects of the notes.
This time for the Public
Today Uganda is a democratic nation of relative peace and prosperity. the 2010 family of banknotes reflects these values in a design rooted in indigenous art that celebrates the country`s historical, cultural and nature heritage. The front of each notedepicts, as a main theme ,the mats,pots and ornaments used in Uganda homes. The reserve side shows an outline map of Uganda with various wildlife scenes.
The notes-printed by De La Rue- are in the existing denominations of 1000,5000,10000,20000 and 50000 Shillings as well as a new denomination of 2000 shillings (USD $0.95). The new denomination is intended to facilite transsactions among ordinary people , as the Uganda Finace Minister puts it.
The notes are smaller in size than the previous series, which will remain legal tender until further notice.
These features include a watermark , a Starchome colour shift window thread, an iridescent pattern, and a raised feature for visually impaired people. The notes are printed intaglio on both sides and varnished for added durability.
A First for SPARK
In addition Uganda is the first country in Africa to use SPARK, a new generation of optical security from SICPA, firts ised on Kazakhstan`s 5000 Tenge commemorative note of 2008. Not only is Uganda the first country in Africa to use SPARK it is also the first country to use it on all denominations.
This is specially important inm a country where cash remains the predominant preferred meansd of payment.
Note and Coin News
New $10 note
The Central Bank of Bahamas has brought out a new version of the $10 in which the portrait of HM Queen Elizabeth II is replaced by that of Sir Stafford Sands, former finance minister and leading architect of the Bahamian economy.
The version it replaces was the first in the country`s CRISP (Counterfeit Resistant Integrated Security Product) series when this was introduced in 2005, and is the first to be subsequently reissued with a new design. With the exception of the $100 note, all the others in the series features portraits of Bahamian figures.
Public Has its Say on Features for Blind
Now that the issue of the current US dollar series is all but complete, attention is beginning to focus on next generation of US currency which, following a court ruling in 2008, must include features that make it more accesible to the visually-impaired and blind.
After extensive research into the different options, the BEP has put forward three proposals- araised tactile feature specific to each denomination, large high contrast numerals and the issue at no cost of currency readers to the visually-impaired community.
In response to the 2008 ruling, the BEP commisioned a comprehensive study to review and analyze the needs of the blind and visually impaired through focus groups, surveys and usability tests. The study examined various methods that might improve access to the currency, undertook a cost impact analysis of possible acommodations on various government and industry sectors, and provided a decition model by which BEP could evaluate these acommodations
The final report- Study to address Options for Enabling the Blind and Visually Impaired Community to denominate US Currency- was published in July 2009. The report did not, however, make specific recommendations. This is down to the BEP, the Us Tresuary and Federal Bank Reserve, which have considered the report and based their proposals on developing a solution that fully complies with the Court's order and provides people who are blind and visually impaired meaningful acces to US currency, while also giving appropiatte consideration to the interest of domestic and international users of currency, US business and cash handling and cash intensive industries`
The proposals have been lodged on the Federal Register and public has 90 days to comment on them.
When the counterfeit detector should be updated ?
There are two different situation where the Countermatic CHICAGO should be updated:
1. When a new Euro or Sterling note will be issued by the Europen Central Bank or The Bank of England. The new note could be an existing note or a new denomination.
2. If the CHICAGO won`t be able to detect a new fake note
The CHICAGO has pass the ECB test as 100 % secure detecting fake notes.
How Can the CHICAGO be updated ?
The updatable cable which is supply with the unit should be keept.
The customer should address to Countermatic letting us know the serial and invoice number. Countermatic will email the customer the new software to be download into the unit.
Only original Countermatic CHICAGO will be updated.
COUNTERMATIC HAS WON THE REPSOL TENDER
Countermatic Chicago - Counterfeit detectors
REPSOL, The main Petrol station Comany in Spain with presence in more than 30 different countries have choosen our counterfeit money
detector CHICAGO, to protect their Petrol stations business from the high ammount of fake notes around Europe.
Countermatic has supply the CHICAGO to all the petrol station network around the country.
With our Countermatic CHICAGO Repsol have improve their cash handling process:
1. Enhancing customer service
2. Reducing cost
3. Improving security and loss prevention
4. Providing accurate up to date management information.
Countermatic wants to thank REPSOL to choose our Counterfeit detector CHICAGO
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