How many counterfeit banknotes are in circulation? I can’t tell you how many times I have been asked this question. So, let’s look at how counterfeit banknotes are found and reported.

467,000 counterfeit euro banknotes were withdrawn from circulation in 2023, according to the European Central Bank, which is one of the lowest levels ever since the introduction of the euro in 2002 in proportion to total banknotes in circulation.

As has been customary at the start of the year in the past, we have invited stakeholders and other participants in the cash community to give their views on key trends and likely developments for the coming year.

This is the first in a series of articles that explores the cultural aspect of money that goes beyond its function as a means of payment or store of value. Many societies have a long-standing tradition of gifting money (banknotes and coins) to mark auspicious occasions – births and birthdays, weddings and other special events, where the value of the gift is as much social as it is financial.

The start of 2024 has been marked by a series of acquisitions in the minting community.

Currency News™ has officially ‘come of age’! That is, if reaching its 21st birthday counts as the coming of age – which in many societies it does.

Jasmina Selimović has been appointed Governor of the Central Bank of Bosnia and Herzegovina (CBBH). She replaces Senad Softić and is the first women to hold the position.

In 2021, Currency News™ issued a special supplement – Concept Notes: Art, Design and Security in One – which reviewed the latest and best ‘concept’ or ‘house’ notes. Following the success of this supplement, we will issue the second version in 2024, covering the newest concept notes over the intervening period.

Rather than have a regional focus in this month’s coverage of cash information in central bank annual reports, we are doing a general catch-up this month, with news from the recently-issued reports of the central banks of Fiji, Romania and Russia.

The Hologram Image Register, established by the International Hologram Manufacturers Association (IHMA) to help safeguard hologram copyright and underpin the use of holograms in secure documents and products, has been extended to include all optically variable (or active) features, and relaunched as the Security Image Register.

This year’s prestigious Regional Banknote of the Year Awards for Asia were presented at a special ceremony during the High Security Printing™ (HSP) Asia conference earlier this month.

Polymer appears to be something of a ‘thing’ in this issue. So, having heard from one established and one emerging polymer substrate manufacturer – De La Rue and Spectra Systems respectively – it seems only fair to hear from the second established manufacturer, CCL Secure, who has provided an end of year summary for GUARDIAN™.

Spectra Systems Corporation has agreed to buy security printer Cartor Holdings in a deal worth up to £10.5 million. It has described the move as a strategic acquisition to bolster its position in the polymer banknote substrate market.

In 2023, we decided to drop Industry Watch – the quarterly review of the share performance of listed companies in our sector – and provide an annual summary instead.

Hueck Folien, a family owned company based in Baumgartenberg, Austria has been supplying security products – initially security threads, followed by holographic/diffractive stripes – to the banknote industry for 35 years.

Cash technology solutions specialist Glory has announced the acquisition of additional shares in the fintech OneBanx, the fully managed shared banking solutions provider.

Danmarks Nationalbank has carried out an analysis of the role of cash in a low cash usage society. 10% of payments are still made in cash and there are groups in society for whom cash is important whether out of necessity or choice. The result is that changes will be made to the currency.

Many people fall victim to the ‘Black Money’ scam, which is basically a get rich quick scheme. Usually there are no counterfeit banknotes involved, but I thought this would be an interesting topic to discuss.

Currency News™ spoke to Mr Junya Shimada – Executive Operating Officer and Group General Manager – about the company’s foundations, its current focus, its philosophy and how it plans to leverage this to go forward in an ever-changing social and technological landscape.

The growth of the internet and social media has been accompanied by a growth in fake news and a fall in traditional, fact-checked journalism. Articles and claims can be circulated freely without appropriate governance. Fake news on a range of issues has incited violence and hate while changing behaviours and influencing politics. It can also damage reputations and lead to unfair advantages.