In the December issue of Currency News™ I wrote on whether note issuers are keeping ahead of the counterfeits, with an update on the latest counterfeiting data, using as one of the data points the ppm metric (parts per million, ie. the number of counterfeits detected versus the number of genuine notes in circulation). The following month, Duncan Reid wrote about the shortcomings of the ppm as a metric. It is great that the topic has raised debate, and Duncan’s article provides the few interesting viewpoints, which Currency News has invited me to comment on.

Due to its relative ubiquity, ppm serves as a useful means of comparing trends both within and between countries. But as a metric it has its shortcomings. This article examines some of those shortcomings and proposes an alternative method based on the number of banknotes used for cash transactions.

Most central banks will classify their counterfeit banknotes to determine the types of threats presented by the counterfeiters. This may be as simple as identifying the printing processes on the counterfeit as digital or traditional. Or it could be an in-depth analysis of the individual characteristics of the printed image along with the security feature simulations.

€11 million sophisticated counterfeiting print shop dismantled in Naples.

Counterfeit deterrence requires a three-pronged approach. Banknote design security, public education and law enforcement.

In this periodic series summarising counterfeit currency around the world, we focus on the latest news from Hong Kong, Libya, Scotland and Ukraine.

In this article, Kerre Corbin of Kerrency details what happens to counterfeits when they are handed in and considers whether these notes included in the counterfeiting statistics reported by central banks.

In this periodic series summarising counterfeit currency around the world, we focus on the latest news from Switzerland, Ukraine, Spain and Bulgaria.

Possession of counterfeit versus intent to defraud. What’s the difference?

Many counterfeiters use a common method of counterfeiting called ‘bleaching’ to create their fakes. This technique is frequently observed in countries that have the same size banknotes across all denominations, such as the US dollar.