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Counterfeit currency is a constant issue for many businesses that can cause significant financial losses and undermine trust in cash transactions. As technology advances, so do the methods used by counterfeiters, making it essential for businesses to invest in reliable and trusted counterfeit detection and cash validation solutions.
The problem is so significant for some economies that major changes in cash security are being implemented globally. In 2026, the US Federal Reserve will begin rolling out a new series of banknotes every two years. These banknotes will have enhanced security features aimed at combatting counterfeiting. Plans to redesign Euro banknotes were also announced at the beginning of 2025 with the new designs to be decided in 2026 with the rollout of the upgraded series into general circulation to follow over several years. The European Central Bank (ECB) made the decision to revamp banknotes for the first time in 23 years with one of the main reasons being to enhance protection against counterfeits.
One of the main drivers for the move from paper to polymer banknotes for many countries, including the UK, was to deliver counterfeit resilience. Polymers with features including see-through windows and holograms make them harder to counterfeit than paper notes. The Bank of England reported that counterfeiting has “substantially reduced since 2019 as a result of a combination of factors such as the introduction of more robust polymer banknotes and the withdrawal of the older paper designs.”
At Innovative Technology, we have dedicated over 30 years to developing cutting-edge cash validation solutions to combat counterfeiting, ensuring that businesses can operate securely and efficiently. We specialise in cash validation and recycling equipment designed to authenticate banknotes and coins, detecting and rejecting any counterfeit / fraudulent money. Our systems use advanced algorithms, multi-wavelength sensors, and high-speed processing to analyse cash authenticity in real time, providing the highest level of fraud protection.
Our most recent cash validation and recycling products now incorporate Spectral Technology as standard to help customers prevent the acceptance of fraudulent notes. Spectral Technology offers complete note image capture scanning millions of datapoints to authenticate the validity of notes to deliver outstanding fraud protection. The support team are also vigilant and respond to any reports of fake notes in the market and quickly provide security updates to combat both known and potential fraud attempts.
One of our most recent achievements is the successful certification of our SMART Coin System by the European Central Bank (ECB). This rigorous test, conducted by the Deutsche Bundesbank, confirmed that our system can reliably detect counterfeit euro coins, ensuring the highest level of protection against fraud. The SMART Coin System offers industry-leading acceptance rates and continues to be a preferred solution for businesses handling large volumes of cash. Our flagship banknote validator, the NV4000 Spectral, also recently passed the notoriously stringent Czech Bank CNB test proving that it can successfully detect all required security features, correctly identify them, and reject all manipulated notes to ensure that change is securely dispensed with no suspicious banknotes paid out. In addition, our NV200 Spectral cash handling device also received Gold Standard certification from The Bank of England in 2024, independently acknowledging its reliability and security and ability to identify genuine banknotes and reject counterfeit notes.
The introduction of new notes can create major challenges for some cash handling systems as they need to ensure devices are updated to recognise the new style notes in advance of their official release. At ITL we have strong relationships with issuing banks worldwide to guarantee timely inclusion of new notes and coins into our free currency datasets files to ensure our validators can be programmed well in advance of new currency entering circulation. By installing the latest firmware, which is free to download from our website, customers can ensure any new notes are either accepted if genuine or rejected if fraudulent, ensuring a smooth transition for all operators and manufacturers.
Our cash-handling solutions, including banknote validators and coin recyclers, provide businesses with:
As counterfeiters continue to refine their techniques, we remain committed to staying ahead of the curve. Our science, research and development teams are constantly enhancing our global currency dataset files, integrating the latest security measures, and improving detection capabilities.
