Intelligent banknote neutralisation system

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History

In Europe the design of intelligent systems to protect valuables began in 1980. The overall goal was to create a secure system to provide additional security for cash-in-transit. The very first IBNS prototype using coloured smoke as neutralisation agent was invented by Spinnaker International Ltd in 1982. This made use of very lightweight and simple to use containers. In 1990, the first case of safety ink as a neutralizing agent was accepted to be used in soft-skinned vehicles.

At the same time, in Sweden, IBNS systems manufactured by Spinnaker were being used in non-armoured and partially armoured vehicles, demonstrating that this was a viable alternative to cash transportation with armoured trucks. The Swedish market decided to progress with IBNS boxes for cash transport.

In 1991 France changed its regulations to allow the use of IBNS in soft-skinned vehicles. The French CIT company VALTIS was the first to implement such a system to service three regional banks. In 2002, Banque de France implemented an international procedure to treat and exchange neutralized banknotes for CIT professionals. In 2003, the European Central Bank made a decision that defined the process and cost of exchanging neutralized Euro Banknotes among all National Central Banks in Europe. [1] In 2005, Banque de France implemented a special procedure regarding the treatment of stained banknotes deposited by private persons. In 2007, Sweden implemented a national regulation making the use of IBNS by CIT obligatory. The same year, the Belgian government also implemented a national regulation imposing the use of IBNS for cash-in-transit.

In 2010, the European Commission finalized a European regulation to harmonize cross-border cash transportation by road. The use of non-armoured vehicles in combination with IBNS is one of two accepted methods of transportation. [2]

Concept

Money stained with a permanent security ink Ink stained cash.jpg
Money stained with a permanent security ink

The concept of an IBNS is based upon the notion that criminals seek to maximize their reward while minimizing the potential cost of the crime. [3] Intelligent Banknote Neutralisation Systems remove the anticipated reward of the crime and increase the risk of being caught. Reducing the reward of the crime is done by permanently marking the cash as stolen with an indelible security ink or bonding agent. Tracers and markers added to the ink or bonding agent provide forensic evidence linking the criminal to the crime scene, increasing the risk of being caught.

IBNS focuses on using technology to protect people, valuables and equipment whilst minimizing the use of weapons and armoured vehicles.

Dye pack

Deployed dye pack Exploded dye pack after Bank of America robbery.jpg
Deployed dye pack

A dye pack is a radio-controlled device used by banks to foil a robbery by causing stolen cash to be permanently marked with dye. The technology was invented in the United States in Georgia, in 1965. [4] In most cases, a dye pack is placed in a hollowed-out space within a stack of banknotes, usually $10 or $20 bills. This stack of bills looks and feels identical to a real one, but usually subtly marked in a way that is only privy to selected bank employees. The development of flexible dye packs makes it virtually impossible to detect by persons handling the stack. [5] [6]

A stack of bills fitted with a dye pack is generally stored next to a magnetic plate at a bank teller's workstation. Under these conditions, it remains in standby or safe mode until a bank employee removes it from the plate and hands it to a robber, causing it to become armed. Once the pack is taken out of the building, a radio transmitter located at the door triggers a timer (typically at least 10 seconds), after which the dye pack explosively releases [7] an aerosol (usually of Disperse Red 9) and sometimes tear gas. The release is intended to mark the money and/or the robber's body with a brightly colored stain so that they can be easily recognized as having been involved in a crime. Depending on the specific contents of the pack, the release may incapacitate the robber and/or destroy the money as well. The chemical reaction causing the explosion of the pack and the release of the dye creates high temperatures of about 200 °C (400 °F) which further discourages a criminal from touching the pack or removing it from the bag or getaway vehicle. [5] Dye packs are used to foil robberies in over 75% of banks in the U.S. [5]

Application

IBNS technology is typically found protecting cash inside ATMs, in retail establishments, in vending machines, and by the cash-in-transit industry, to protect cash in the public space.

Legislation and regulations

The use of IBNS is usually regulated by the presence or absence of a legal structure (legislation and regulations) as well as the legal conditions applying to the private security sector. Following are examples of the types of legal regulation pertaining to the neutralisation of national banknotes practised by the National Central Banks of various countries:

See also

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<span class="mw-page-title-main">Banknote</span> Form of physical currency made of paper, cotton or polymer

A banknote – also called a bill, paper money, or simply a note – is a type of negotiable promissory note, made by a bank or other licensed authority, payable to the bearer on demand. Banknotes were originally issued by commercial banks, which were legally required to redeem the notes for legal tender when presented to the chief cashier of the originating bank. These commercial banknotes only traded at face value in the market served by the issuing bank. Commercial banknotes have primarily been replaced by national banknotes issued by central banks or monetary authorities.

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<span class="mw-page-title-main">Security printing</span> Field of the printing industry for banknotes and other security products

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Automated cash handling refers to the process of dispensing, counting, and tracking cash within various business environments using software and hardware devices such as banknote processing. Automated cash handling is used by banks, retail stores, check-cashing outlets, payday loan/advance providers, casinos, and more. This process is facilitated through the use of specially designed hardware and software, with the primary goals of preventing loss, deterring theft, and reducing the need for constant manual oversight of cash operations.

<span class="mw-page-title-main">Armored car (valuables)</span> Specially-designed vehicle used to ensure safe transport of valuables and people

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<span class="mw-page-title-main">10 euro note</span> Euro banknote

The ten euro note (€10) is the second-lowest value euro banknote and has been used since the introduction of the euro in 2002. The note is used in the 25 countries which have it as their sole currency ; with a population of about 343 million. In July 2023, there were approximately 3,033,000,000 ten euro banknotes in circulation around the eurozone. It is the fourth most widely circulated denomination, accounting for 10.2% of the total banknotes. Estimates suggest that the average life of a ten euro banknote is about 1.5 years before it is replaced due to wear.

<span class="mw-page-title-main">20 euro note</span> Euro banknote

The twenty euro note (€20) is the third-lowest value euro banknote and has been used since the introduction of the euro in 2002. The note is used by the 25 countries and a population of 343 million as their sole currency, with 23 legally adopting it. In July 2023, there were approximately 4,837,000,000 twenty euro banknotes in circulation around the eurozone. It is the second most widely circulated denomination, accounting for 16.3% of the total banknotes. Estimates suggest that the average life of a twenty euro banknote is about two years before it is replaced due to wear.

<span class="mw-page-title-main">50 euro note</span> Banknote of the European Union

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<span class="mw-page-title-main">100 euro note</span> Euro banknote

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<span class="mw-page-title-main">200 euro note</span> Euro banknote

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<span class="mw-page-title-main">500 euro note</span> Banknote of the European Union

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<span class="mw-page-title-main">Cash-in-transit</span> Physical transfer of banknotes, coins and other items of value from one location to another

Cash-in-transit (CIT) or cash/valuables-in-transit (CVIT) is the physical transfer of banknotes, coins, credit cards and items of value from one location to another. The locations include cash centers and bank branches, ATM points, bureaux de change, large retailers and other premises holding large amounts of cash, such as ticket vending machines and parking meters.

<span class="mw-page-title-main">Oberthur Cash Protection</span>

Oberthur Cash Protection is a French manufacturer of Intelligent Banknote Neutralisation Systems to protect cash, based in Dijon, France. Established in 1985, the company holds one of the first IBNS patents to protect valuables by neutralizing them with ink and, as of 2011, is the largest manufacturer of such systems in the world, with over 60,000 systems installed.

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A security bag is a heavy duty bag used to contain high-value products, documents or legally sensitive items. Envelopes with security features are called security envelopes as well as security bags. Cash for deposit in a bank is often placed in a special deposit bag with security features. When they are used to contain items related to a crime, special evidence bags are used. Authentication of signatures and chain of custody are often required.

Dynamic Intelligent Currency Encryption (DICE) is a technological concept proposed to enhance the security of paper currency. It aims to track and monitor banknotes in circulation by utilizing identifiable characteristics, allowing for the remote devaluation of banknotes implicated in fraudulent activities or criminal transactions. Developed in 2014 by the British-Austrian technology company EDAQS, DICE introduces a security system wherein banknotes are equipped with Machine Readable Codes (MRC) or Radio-Frequency Identification (RFID) tags. These banknotes are then registered to a centralized system, purportedly rendering them secure and resistant to forgery.

Banknote processing is an automated process to check the security features and the fitness of banknotes in circulation, to count and sort them by denomination and to balance deposits. This processing of currency is performed by security printing companies, central banks, financial institutions and cash-in-transit (CiT) companies.

References

  1. ↑ , DECISION OF THE EUROPEAN CENTRAL BANK of 20 March 2003 on the denominations, specifications, reproduction, exchange and withdrawal of euro banknotes. EUROPEAN CENTRAL BANK.
  2. ↑ , Commission proposal for an EU Regulation to facilitate professional cross-border transportation of euro cash by road. European Commission
  3. ↑ "Archived copy" (PDF). Archived from the original (PDF) on 2011-09-28. Retrieved 2011-08-18.{{cite web}}: CS1 maint: archived copy as title (link), Barthe, Emmanuel. Crime Prevention Publicity Campaigns. U.S. Department of Justice. 2006, p.9.
  4. ↑ Di Paola, Jim (19 November 1989). "DYE PACKS FOIL BANK ROBBERS' CLEAN GETAWAYS". Sun-Sentinel.com. Retrieved 17 July 2019.
  5. 1 2 3 "I've heard of bank robbers being foiled by a 'dye pack' put in their money stash. What is a 'dye pack'?". How Stuff Works. Retrieved May 21, 2012.
  6. ↑ US 5485143,Keniston, Scott E.,"Security dye pack having flexible heat-resistant chemical pouch",published 1996-01-16, assigned to US Currency Protection Corp.
  7. ↑ "Thieves caught after dye pack explodes in bank heist". New York Post. Retrieved October 23, 2016.
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