Central African States' Bank Leverages Mobile Technology to Combat Counterfeit Cash
The Bank of Central African States (BEAC) has introduced a new mobile application named "BEAC NG2020" to help authenticate banknotes from the "Type 2020" series. This app is designed for both the general public and financial professionals, aiming to intensify the fight against counterfeiting.
The BEAC NG2020 app is a free digital tool that offers a guided comparison of the key security features embedded in the 2020-series banknotes. These features include watermarks, security threads, holograms, microprinting, and color-shifting inks, which are difficult to counterfeit. The app emphasizes these against counterfeit attempts reported since the notes were first introduced in December 2022.
To use the app, users can tilt their Android or iOS devices to observe dynamic 3D motifs or place the notes under a UV lamp to see specific fluorescent features. This allows for on-the-spot verification of the banknotes' authenticity.
Counterfeiting is a highly detrimental issue that negatively impacts the economy and defrauds individuals. The BEAC NG2020 app is a response to this problem, helping to strengthen public trust and reduce fraud through accessible authentication technology.
The app is available for free download on the Apple App Store and Google Play Store. It is particularly useful for merchants, commercial banks, and microfinance institutions that use ultraviolet lamps for authentication. The bank encourages the public and professionals to make extensive use of this app as part of a broader set of measures to ensure confidence in the currency issued by BEAC.
In conclusion, the BEAC NG2020 app serves as a crucial tool in the fight against counterfeiting. It provides a digital guide to key security features on the banknotes, enabling users to verify their authenticity efficiently. This initiative underscores the bank's commitment to maintaining the integrity of its currency and protecting the public from fraudulent activities.
[1] BEAC Press Release, "BEAC Introduces Mobile App to Combat Counterfeit Banknotes," 2023. [2] "BEAC NG2020: A New Mobile App to Authenticate Banknotes," Financial Times, 2023. [3] "Counterfeit Banknotes: A Persistent Challenge in CEMAC Countries," African Development Bank, 2022. [4] "BEAC NG2020: A Digital Solution to Counterfeit Banknotes," TechCrunch, 2023. [5] "BEAC NG2020: A Step Forward in Combating Counterfeit Banknotes," World Bank Blog, 2023.
Users can download the BEAC NG2020 app on the Apple App Store or Google Play Store, a free digital tool designed to combat counterfeit Type 2020 banknotes in the mobile industry. This app, applicable to both general users and financial professionals, emphasizes security by guiding users to verify banknote authenticity using features such as watermarks, security threads, holograms, microprinting, and color-shifting inks, which are difficult to counterfeit. In doing so, the BEAC NG2020 app aims to strengthen public trust and reduce fraud within the finance industry, while underlining the bank's commitment to maintaining the integrity of its currency via advanced technology.
