Hungary: New Generation Banknotes

[Bimat]

MNB to promote fight against banknote forgery

BBJ
Friday, September 9, 2011, 12:15 PM CET

The modified measures of the Hungarian central bank will promote the wider market penetration of new generation banknote authenticators. These devices are the most modern tools in the fight against banknote counterfeit.

The National Bank of Hungary (MNB) will require credit institutions and state-owned postal company Magyar Posta to gradually install ultraviolet banknote authenticators at teller's desks in offices handling daily cahs flow of more than HUF 5 million, the bank writes in a press release.

MNB modified its two measures regulating the distribution of banknotes and the technical terms of their protection against counterfeiting. The objective of the central bank is to intensify the protection of banknotes and maintain the quality of banknotes on the market. The proportion of banknotes controlled by these machines in the nationwide cash flow will grow remarkably by 2017. This step will help increasing the quality of cash in circulation, too, MNB claims.

MNB already called for a tender this spring targeting people in the retailer and the hospitality segments with the intention to help UV-A/C lamps becoming more widespread. Within the framework of the tender, MNB will support companies and private entrepreneurs with 60% of the net price of UV-A/C lamps.

Source: BBJ