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How much does counterfeiting cost business owners ?

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  • Safescan

Counterfeiting is estimated to cost us businesses billions annually, and the ec estimates that counterfeiting has cost the eu at least € 500 million since the euro’s introduction in 2002. Accepting counterfeit money is a real threat that every entrepreneur faces. The best protection is an active anti-counterfeit policy at the point of sale.

What currencies have the most counterfeits ?
In absolute terms, the us dollar is the world’s most counterfeited currency. Percentage-wise, the British pound sterling is in the lead. The euro is also a prime counterfeiting target; since its introduction in 2002, the amount of counterfeit currency in circulation in Europe has steadily risen each year.

How do central banks protect banknotes from counterfeiting ?
All counterfeit detectors rely on sophisticated security features that central banks deliberately insert into banknotes. These features begin with special treasury paper, which is either a cotton-linen blend or, increasingly, polymer-based. Central banks then design each banknote to contain complex ultraviolet, magnetic, infrared and holographic features. In many currencies, each note type (or denomination) also has a unique, very specific size, thickness and weight, to combat bill bleaching (where counterfeiters bleach a genuine low-value banknote and print a higher-value counterfeit on the same paper).

What if a central bank makes changes to a banknote ?
Central banks are constantly working to improve banknote security as new techniques emerge. Safescan’s currency management team keeps abreast of these developments and updates our detection software as soon as new bills are announced. We notify when an update is ready; all you have to do is install it using the USB port or micro SD slot on the back of your Safescan device. When the new note enters circulation, your Safescan detector will be ready for it. 

How do Safescans counterfeit detectors work ?
Safescan offers a range of counterfeit detectors with detection to fit every budget and need, from simple detectors that let you manually inspect a single banknote feature (such as ultraviolet or magnetic marks) all the way to sophisticated, automated multi-point detection technology . All tested 100% by the central banks.

Central design each banknote to contain complex ultraviolet, magnetic, infrared and holographic features. In many currencies, each note type (or denomination) also has a unique, very specific size, thickness and weight 

Do Safescans banknote counters include detection as well ?
Besides detectors, Safescan also offers a full range of coin and banknote counters. All Safescan automated banknote counters  include counterfeit detection. From 1-point detection up to the multi-point detection technology. Again all tested 100% by the central banks.

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