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Know your money Print E-mail
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Written by By Jem Smith   
Thursday, 11 May 2017 00:00

A “Know your money” training was held at the Central Bank of Belize on May 3, 2017. The purpose of the training was to educate members of the community and members of banking and other institutions that handle a mass sum of money on a day-to-day basis on authentic versus counterfeit notes.

The presenter, Barnady Dicks, Caribbean Regional Manager of De La Rue, informed those in attendance on the many instances of counterfeit and how best to counteract the efforts of counterfeiters. De La Rue is a British company that was established in 1818 by Thomas De La Rue. Since then, it has become the world’s largest Integrated Security Printer and is involved in 140 different countries with the printing of currency, identification, and Product Authentication and Traceability. The company has the responsibility of not only printing Belize’s currency but of implementing each security feature from before the notes are printed.

The training was interactive and allowed the participants to operate ultraviolet lights, magnifying lens, and specimen notes. During that session, persons were each able to identify security features for themselves such as the threading, denomination specific foil and holograms, intaglio ink/ raised printing, see-through features, and novel numbering.

Dicks gave an overview of the printing process and divulged into the methods used by De La Rue to prevent or deter counterfeiting. The company uses equipment that costs a total of over US $16 million dollars that integrate specific security features into each denomination. The participants were left with four simple techniques of determining the authenticity of a note: feel, look, tilt, and check. Genuine notes have specific feelings at specific places, look a certain way, have holograms and foil at some places at precise places on some notes, and react an exact way when contacted with a fluorescent lamp.

According to Dicks, there are numerous methods of counterfeiting worldwide and counterfeiters are only getting better and more advanced in their methods. That is why, says Dicks, De La Rue has to keep one step ahead to protect the money of Belize and all other countries that they print for.