On this page, we go over the several aspects that South Africa uses to produce banknotes that aren’t counterfeit. What if everyone could print money whenever they wanted? Under what conditions might poverty be defined? Since printing money would undermine the country’s present economic structures, customs, and notion of worth, the South African government has the authority to stop anyone from producing banknotes (money) whatever they like.
How South Africa Prevents the Production of Counterfeiting Banknotes
How South Africa Prevents the Production of Counterfeiting Banknotes:
- First and far most, the South African government, through the Reserve Bank, uses the section 14 of the SARB Act, which states that only the South African Reserve Bank has the right to issue banknotes and coins in South Africa. The SARB Act prohibits any reproduction of banknote images – even for artistic or advertising uses.
- Secondly, the South African Government criminalises the production of counterfeint currency (imitation notes or coin produced without the legal sanction of the SARB.)
- Thirdly, any counterfeit notes found in circulation cannot be exchanged for cash, as they have no value. To confirm the validity of a banknote, the approach of Look, Feel and Tilt can be used.
The SARB, the South African Police Service and the commercial banks work together to combat the counterfeiting of banknotes and coin. As stated by the South African Reserve Bank, members of the public who come into possession of counterfeit banknotes and coin must immediately report it to their nearest police station.
The Features used in Producing Banknotes to Prevent Counterfeiting in South Africa
- Watermark: A watermark is a recognizable image or pattern embedded into the paper or polymer substrate during the banknote manufacturing process. It is often visible when the banknote is held up to the light.
- Security Thread: A thin strip of metallic or plastic material with microprinting or holographic features that is embedded in the banknote. It is visible on both sides of the note and is difficult to reproduce.
- Color-Shifting Ink: The use of ink that changes color when the banknote is tilted. This feature is often applied to specific elements of the design, such as denominations or symbols.
- Holograms: Holographic foils or patches with intricate designs that change appearance when the banknote is tilted. Holograms are challenging to replicate and provide a high level of security.
- Microprinting: Tiny text or patterns that are difficult to reproduce with standard printing techniques. Microprinting is often used in various locations on the banknote.
- Raised Printing: Certain elements of the banknote may have raised printing that can be felt by touch. This is a tactile feature that is hard for counterfeiters to replicate accurately.
- Transparent Windows: Some banknotes incorporate transparent windows made of polymer or other materials. These windows may contain additional security features.
- Optically Variable Ink (OVI): Ink that changes color when viewed from different angles. OVI is often used for printing specific elements of the banknote, such as denominations.
- UV Features: Elements that are visible only under ultraviolet (UV) light, including fluorescent inks or features that glow when exposed to UV light.
- Machine-Readable Features: Advanced security features that can be detected by machines, such as special inks or patterns that can be verified using automated systems.