Thursday, December 3, 2009

Counterfeit Banknote

There are many cases of counterfeit banknote appear recently in the market. A local newspaper reported a couple was caught by police for depositing the fake banknote into ATM machine and later withdrawing it through another ATM machine. Ironically, some of these counterfeit banknotes were identified as new series of RM50 note.

According the Bernama, cases of counterfeit banknote in the country is still low and under control, especially involving RM50 notes, with only 13 notes found per million Ringgit. The Finance Department informed that 48,555 counterfeit notes were detected and reported to Bank Negara Malaysia (BNM) from 1 January 2009 to 30 September 2009.

The international guideline says that if the counterfeit money reaches 20 pieces per million issued, it can be considered serious. Only when that happens will the situation need to be rectified and safety measures implemented immediately.

Eventhough we have yet to reach the critical mark as highlighted above, the government and BNM are taken several measurements to improve the security features of the notes. This includes the new series of RM50 note that has equipped with high technology security features to make it difficult to falsify.

7 comments:

Khaz said...

The only sure way to avoid financial loss from having been handed counterfeit banknotes is to use a cash counter or counterfeit detector. They tend to pay for themselves quite fast.

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md said...

To learn more about what banknote manufacturers are doing to stay ahead of the counterfeiters, visit the blog http://www.globalpapersecurity.com

kurosagi said...

i have a sample of new RM50 counterfeit...but, its rather an original RM50 printed on front side(Yang Dipertuan Agong's portrait is always in front) only, after that, being robbed before its back side printed (the part got serial number), then they print the back side using normal printer...i used money detector to check front side and yes, it pass the test, the metallic thread part(which appear at back side of note) is glowing green and wide silver thread part also got some glowing green area....even, the numeral 50 inside round uneven surfaced(i'm not sure to call it what, but no other notes use this security features yet) also they got...hm~

Anonymous said...

Though counterfeit but if can be used,such as can be pain into the bank account, is it really counterfeit?

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