Comparative Analysis of Security Features in Banknotes Across Various Global Economies using VSC®-8000/HS

Abstract

Background: Banknote counterfeiting is a serious issue. Every government adds various security elements to its banknotes to avoid forgery. The security measures inducted in the banknotes reduce the likelihood of counterfeiting. These are the unique elements that are incorporated during the production process. Paper quality, intaglio printing, watermarks, security threads, latent images, etc. are some of these unique properties. Every nation has a unique set of security characteristics. In the year 2016 India demonetized and recalled all of its highest denomination bank notes (Rs. 1000 and Rs. 500) in order to cease counterfeiting. Thereafter, there has been incorporation of various security features in the current Mahatma Gandhi series to make the currency standout with other international currencies, in order to reduce the chances of forgery as per the sections 489A-489E of Indian Penal Code, 1872. Methods: Banknote samples were analyzed using the non-destructive Video Spectral Comparator 8000 (VSC®-8000/HS) by foster+freeman®. Each sample was placed in the live-camera unit with high- resolution 12-megapixel camera forming the part of Super Resolution Imaging (SRI) system. Front and back pictures of the banknotes were taken in white light. The samples were then examined under various illumination settings (Spot Light, Oblique Light, Transmitted Light, UV-light, and Infrared light) for both sides. Security features like Microprinting, Micro texting, Guilloche Pattern, OVI, Watermarks, etc., were studied. Results: In the current research paper, the security characteristics of the banknotes of ten different countries are compared utilizing VSC®-8000/HS. Analysis reveals Thai Baht with the most security features, followed by Vietnamese Dong, Czech Koruna, Indian Rupees, and others. Notably, Indian banknotes stand out due to UV features, security thread, latent image, and strategic micro text placement. Conclusions: This research paper recognizes the importance of security features in various banknotes including the Indian banknotes and also provides some of the recommendations to enhance the quality and security features in the Indian banknotes.