Counterfeit Money Prevention Possible Through A New Magnetic Nanomaterial
Counterfeiting currencies is considered one of the oldest crimes in human history. As people began trading goods through coinage, many people have attempted to use fake, lower-value versions of currencies.
As technology gets more advanced, counterfeit money also gets harder to identify. This counterfeit fraud is harmful to businesses and individuals’ financial health and profitability and should get solutions as fast as possible.
This article will inform you on how to spot counterfeited money using several manual and machine-aided methods. Afterwards, you will also know more about magnetic nanomaterial, a scientific advancement for counterfeit money prevention.
How to Spot Counterfeited Money?
Holding a new series of banknotes and tilting it back and forth is usually the first step to check the genuineness of the money. If the numeral in the lower right-hand corner shifts from green to black or from gold to green, it is authentic.
It should only be visible when you hold it up to the light and be on the right side. If there is no watermark or it is visible without being held up to the light, there is a high chance that the bill you have is a counterfeit.
If it’s a face as a watermark, it should exactly match the face on the note. Counterfeits undergo bleaching of lower bills and are printed once again with higher values, which would result in a face that will not match the watermark.
Blurry Borders, Printing, or Text
Original bills use printing plates that are die-cut which create impressively fine lines that have very detailed features. Counterfeited money usually does not have the same level of detail and does not contain microprinting or finely printed text. The banknote is probably counterfeit if, even under a magnifying glass, the microprinting is unreadable.
Run your fingernail carefully down the note to detect raised printing features. Some nail vibrations from the ridges of the raised printing should manifest, and if you don’t feel the texture, you should be more cautious.
Security Thread with Microprinting
A security thread that is a thin imbedded strip running from top to bottom on the face of a banknote comes with microprinting. If you don’t find one, it’s best to turn it over to authorities.
Ultraviolet light is helpful because of its clear-cut way of telling the notes’ authenticity. The security thread on original bills glows under ultraviolet light.
Red and Blue Threads
These are minuscule red and blue threads woven into the fabric of the bill. If it is obvious on the printed notes’ surface level, it is most likely that the bill is a counterfeit.
The letter that starts a banknotes’ serial number always corresponds to a specific year. A counterfeited note has letters that do not match the year printed on the bill.
Existing Counterfeit Money Prevention Methods
Spotting counterfeited money using the naked eye is a rather outdated prevention method. In this age of technology and innovation, machines made solely for this purpose exist, such as the following:
Banknotes incorporate invisible UV marks that are only visible under ultraviolet light. To be specific, it can’t just be any ultraviolet light, for it needs to be at a wavelength of 365 nanometres to work.
Magnetic and Metal Thread
Banknotes have ferromagnetic ink printed on them in complex magnetic patterns. Usually, this magnetic thread is interweaved into the notes in specific sizes and locations.
Banknotes have inks that are only invisible to the naked eye and only become visible under infrared light. Infrared sensors reflect and absorb light using the special characteristics marked on each denomination.
Size Detection Devices
Each banknote denomination has the same length, width, and thickness, making this another way to check for fake notes using 3D measuring methods.
Serial number and CIS
Authentic banknotes have a unique serial number on each side, which is usually helpful for financial ledgers and reports. Detection machines use an advanced Contact Image Sensor (CIS) sensor to scan and record the serial numbers.
New Innovative Counterfeit Money Prevention Method?
An internationally recognized research team spearheaded by NUST MISIS has discovered and developed a new counterfeit money prevention method using iron-cobalt-nickel nanocomposite with tunable magnetic properties. The nanocomposite will be helpful to protect money and securities from counterfeiting.
What are Magnetic Nanomaterials?
Due to their unique properties, magnetic nanomaterials (MNMs) have attracted significant interest. The nanoparticles fluctuate as a result of thermal energy.
According to Yuri Konyukhov, Deputy Head of the Department of Functional Nanosystems and High-Temperature Materials at NUST MISIS, this innovation uses a simple method that allows the control of the product’s properties at each stage of its production.
Benefits of Magnetic Nanomaterial in Counterfeit Money Prevention
Magnetic nanomaterials possess a high value of coercivity, making them applicable to protecting money and securities from counterfeiting.
Konyukhov further stated that the scientific community has recently focused its efforts more than ever to protect humans and electronic devices from possible electromagnetic radiation.
This development of using thin, flexible, and relatively transparent metal-polymer composites is a promising research direction. The new magnetic nanocomposite with controlled magnetic properties as the magnetic filler could lead to a scientific breakthrough.
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