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The Holography Times, April 2009, Volume 3, Issue No 6

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Counterfeit deterrence: Currency design in India and abroad,

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The Holography Times, April 2009, Volume 3, Issue No 6

  1. 1. The Holography Times Special Report ?ALSO • Zebra Saves Time, Money And Lives with Hologram • Hologram Warranty Seal for Cuban Cigars • Reconnaissance Acquires Cross Conferences’ • Holographic Technologies for solar Generation • Industry Updates and more… www.homai.org The Holography Times is a quarterly newsletter published by HoMAI. 1 TM Endeavour to safe guard products & people April 2009 | Vol. III | Issue VI www.homai.org Counterfeit Deterrence: Currency design in India & abroad
  2. 2. The Holography Times Holoflex growth with innovation Counterfeit Deterrence: Currency Design in India & Abroad www.homai.org Editorial A warm welcome to all our readers! With new hopes and resolutions we step into the New financial Year. Every financial year comes with new challenges, new opportunities and new ideas. It is critical to reassess one’s goals, objectives and strategies in order to keep pace with the changing nature of the world and look your best. HoMAI is no exception. Holography is amongst one of the few industries which has tremendous opportunities, but is also subject to rapid advancement and innovation- where there is always something new happening worldwide. Thus, there is a continuous need for up gradation of technology, customer education & security features. As a hologram manufacturer, there is always a challenge to stay a step ahead of counterfeiters. We, the team of Holography Times, have set down certain agenda to ensure remarkable achievement and progress of this industry. It has been our constant endeavour to bring a sharper focus to the requirements of our readers, to talk to all users, model their use of information in the newsletter, and design an appropriate format. We understand that holography is not just restricted to security business. For a wider perspective we will try to cover areas like, Medical Holography, applications of holography, Promotional, printing etc. For this change to translate into success, we would like your feedback on what should be included in our newsletter, as well as issues and questions that should be raised, to make it a real medium of communication. In addition to regular features, we will be sending you feedback questionnaires for your comments. This quarterly issue of Holography times has a very important offering on currency counterfeiting for our readers in the form of a special report titled “Counterfeit Deterrence -Currency Design in India & Abroad”. A must-read for all members! This topic has been included again in this edition, since the menace of fake currency is serious and real. Seizures of large quantities of bank notes reported in the press suggest that there is a dramatic increase in the scale of counterfeit in India. In this article we study counterfeit money, its threat to society, explore the characteristic of an ideal currency & compare and contrast design features in bank notes issued by monetary authorities of various countries, to deter counterfeiting.This issue also includes latest holography happenings, Technology read on use of innovative holographic technologies for solar energy generation, Industry news & updates among many others. With your support we will be back with more insightful and informative articles! Happy reading! Team HoMAI! In this Issue News Bytes 3-5 Corporate News 6 Company Profile 7 Holographic Solar A scientific & novel approach in solar energy generation 13 Event & Conference 14 New financial year! New challenges! 2
  3. 3. The Holography Times News Bytes Zebra saves time, money & lives with hologram Zebra Imaging, an Austin fi rm, has fi gured out a high speed print process that reproduces any form of 3-D computer data, as an image that can be viewed from any angle, without distortion. Also, it has created a printing method that generates images on fl at fi lm that appear to be three dimensional, without using special glasses. The company, founded in 1996, initially developed the technology so the automobile industry could eliminate the step of building clay models. At present, Zebra Imaging’s largest customer is the U.S. Army, which uses the technology for geospatial maps, since it gives a better idea of heights and distances than conventional maps. Here, holographic technologies for military applications fi nd its use in data visualization and table top holographic displays of net-centric battle space in the form of maps. However, now, Zebra’s new printing machine has opened up the hologram market to many more manufacturers and designers that need to see what their computer-drawn products really look like. www.homai.org The company is looking to expand its target market from military to architecture due to several factors providing an opportunity. In addition to improvements in laser imaging technology; architectural drawings are now initially produced with 3-D, computer-aided design software. The shift is enabling Zebra Imaging to directly produce the holograms from natively produced 3- D drawings, and skip to convert CAD drawings to 3-D images. The 13-year-old company plans to tap architects as potential new customers. Zebra’s innovation lies is making large holograms that are accurate from any angle- the approach is intended to replace conventional model building. A holographic model of a building by Zebra Imaging Inc. can provide a three-dimensional view for much less money and in much less time than physical models. Instead of the weeks it takes to build a physical model, a hologram can be produced in hours. The turnaround production time is fast and the model size, color, quality, and potential for animation are user-controlled parameters-giving the architect more control. The cost of a hologram is comparable to physical models produced of the same size- A single 2 sq. foot monochromatic image panel typically costs $1,500 to $2,000, while color images cost $3,000 to $4,000, whereas physical models typically cost at least $6,000. They are robust, easy to handle, easy to transport and send. Updates & multiple copies can be easily produced & sent out to stakeholders at a single / multiple locations. Holograms can be archived as physical documentation. Due to these reasons the company expects the technology to be a popular tool among fi rms. Source: www.zebraimaging.com Inside the Humvee at night AB Graphic launches new modules for foil hologram AB Graphic International, a worldwide supplier of label converting and fi nishing equipment, has announced a number of new developments for its Digicon Series 2 label converting line. These include modules for booklet insertion, foil hologram registration and twin fl atbed die embossing/foiling. Omega Digicon series 2 is a modular label converting line for digitally printed webs and offers all the usual production options such as 100% camera inspection, hot foil stamping, embossing, over laminating and sheeting. The new modules expand the range of label applications possible. The booklet insertion application is fi tted to the Digicon on rails so that it can be pushed out of the way when not in use. Digital servomotors ensure precise web tension and tracking. The hologram module was recently supplied for security application and is used in combination with an inkjet printing system. This particular converting line is unique in that it has three web movements all on the same machine; semi-rotary, intermittent and full rotary. The twin fl at bed die embossing module with semi-rotary die cutting is another innovation that also permits foiling. Savings are realized through the use of fl at bed tooling which is a fraction of the cost of rotary tooling. Source:www.labelsandlabeling.com 3
  4. 4. News Bytes The Holography Times www.homai.org Hologram warranty seal for Cuban cigars In a move aimed at making it diffi cult for counterfeiters to package and sell fake Cuban cigars, Habanos S.A., responsible for manufacture and export of Cuban cigars, has modifi ed the look of the familiar green and white “Cuban Government Warranty Seal of 1912” which adorns all legitimate boxes of Havana cigars. The Warranty Seal has been one of the most visible methods of determining whether Cuban cigars are real or not. The management of Habanos has introduced this measure, since bogus cigars cut into their profi ts, not to mention alienates smokers who quickly become disillusioned with expensive Cuban cigars that taste unremarkable and don’t live up to their lofty expectations. From now on, the leading cigar supplier will introduce the new Warranty seal in its packaging to safeguard contents. Two new elements will be added- a hologram on the right hand as a security item and a barcode on the left hand, next to the Cote d´ Arms, which will personalize every package. The new seal has special characteristics, such as an auto-destructive feature on any attempt at removal, non-transferred label; highly adherent paper (plastic) which is self-destructive; scan and photocopy-protected system; holographic band showing a bi-colour text in the second and third dimension; elements with optical variations attached and an enclosed micro dot only visible through a laser scanner. A unique bar code will be applied on every box, customizing every pack. This information will be saved in a database, allowing identifi cation of the product at all times, including to whom the product was addressed as well as the invoice number. Source: www.cigarcyclopedia.com The new Cuban Warranty Seal with the personalized bar code on the left hand side and the hologram on the right This picture shows the proper placement of the new Cuban Warranty Seal in already sealed boxes HP launches new digital label press to compete with flexographic HP has launched its latest digital label press, the HP Indigo WS6000, which can handle up to 80% of jobs printed on traditional flexographic presses and also saves time. The new digital press is being targeted at customers in the packaging and marketing sectors. The machine builds on HP’s existing ws4500 model and can print at speeds up to 30m per minute in four-colour mode. According to the manufacturer, the WS6000 has been designed to be more cost-effective on jobs up to 4,000 linear meters, which is the kind of work that is normally carried out on fl exographic machines. Also, it can print on a variety of substrates ranging from thin fl exible packaging material, to folding carton, label and shrink sleeve media. Alon Bar-Shany, vice president and general manager of HP’s Indigo division, said the latest model builds on the success of the ws4500 and offers “a combination of quality, fast turnaround and fl exibility enabling customers to pursue new revenue opportunities”. He added: “HP is unlocking lean manufacturing benefi ts for consumer packaged goods makers in addition to offering a competitive cost per label.” Souce: www.printweek.com 4
  5. 5. The Holography Times News Bytes Zimbabwe music rights association’s drive to fight piracy Many efforts have been taken by SBI launches 1st ‘cash factory’ to prevent counterfeiting www.homai.org In d i a ’ s largest bank, the State Bank of India (SBI) launched its fi rst Currency Administration Branch (CAB), in Lucknow, to handle currency notes. Also known as cash factory, CAB is part of the bank’s plan to open one currency chest in every city to distribute notes to local banks & ATMs, apart from identifying counterfeit currencies. The cash factory will be the nodal point for all local SBI branches as well as ATMs. About half a dozen sophisticated note sorting machines will sort out currency notes in four varieties in the branch offi ce. The fi rst variety currency notes will be fed into ATMs, the second variety, known as re-issuable notes, will be kept for customer transactions, while the third one, non-issuable, will be sent back to the Reserve Bank of India. Mutilated and bad notes detected by machines will come under the fourth variety and will be subjected to further manual scrutiny. This new arrangements will be aimed at a more effi cient and cost-effective centralized currency administration system instead of having multiple currency chests. SBI chief general manager Shiv Kumar also said, that “The CAB would also give a boost to the fi ght against fake currency in Uttar Pradesh, which is turning out to be a hub for counterfeit currency notes smuggled purportedly across the porous border with Nepal.” In August last year, a Reserve Bank of India team had unearthed counterfeit currency amounting to over Rs.5 million from the currency chest of SBI’s Domariaganj branch. Source: www.timesofi ndia.com organizations such as the Anti- Piracy Organization of Zimbabwe and other stakeholders to arrest infringers of music piracy and put mechanisms in place to protect artists from having their music reproduced , starving them of their dues. For an industry growing at the rate of 18%, piracy could abort its stratospheric fl ight even before take off, thus more is being done by the organizations to protect artists. To fi ght this menace, countries such as Malawi and South Africa have moved a step ahead in fi ghting piracy through the introduction of the security devices for sound and audiovisual recordings- which include banderole and hologram. International research shows that the most effective method of combating piracy is a banderole system. The methodology of the banderole system is to mark legitimate product with a label or sticker that is impossible to forge. This assists the consumers and the criminal justice system to identify legitimate product and provides necessary proof of counterfeits. The banderole is not just an identifying tool but also a statistical tool since it is numbered. This move has been welcomed by the Zimbabwe Music Rights Association, an association established to protect the rights of the composers and publishers of music and act on issues concerning copyright. Accordingly, banderole has been adopted and business establishments that use music, either by radio, television, computer, satellite dish, mp3 players, and so on are expected to be in possession of a copyright music license from the Zimbabwe Music Rights Association which is renewable once a year. Section 35 D of the Copyright and Neighboring Rights Act stipulates that no person shall be accredited to purchase the hologram unless he or she proves to the satisfaction of the Copyright Offi ce that he or she has been authorized by the owner of the copyright work to produce it. “It therefore means the owner of musical works should enter into a written agreement authorizing whoever wants to reproduce the works permission to do so”. Introducing the hologram and encryption system in the country could be the beginning of protecting music from being reproduced or downloaded easily from the internet. Kenya will be introducing the hologram this year following the review of their copyright law. Other countries such as Zambia, Ghana, Nigeria and Malawi are already using the hologram to authenticate their music, videos and fi lms. Source: www.newsnet.co 5
  6. 6. Corporate News The Holography Times French hologram industries acquires advestigo French holographic security solutions provider Hologram Industries acquired local digital asset management solutions provider Advestigo, on 13 March 2009. Advestigo is a French producer of software specialized in the fi ght against counterfeiting. According to Hologram Industries, the deal is estimated at EUR4.5 million (USD5.8m). The acquisition is part of the diversifi cation strategy of Hologram Industries. The deal will allow Advestigo, which had several diffi cult years due to high expenditure on research, to improve its sales using the international network of Hologram Industries. Source: www.reuters.com Reconnaissance sits cross conferences’ to its security portfolio Reconnaissance International - a specialist publisher, conference organizer and consultant for authentication, brand and document protection, holography and currency industries, has purchased the annual Pan-European High Security Printing Conference and the Asian High Security Printing Conference from the Cross Group and BSC International. Established in 2001, these conferences have become recognized as leading events within the government and related high-security documents arena. These are well-attended by a wide spectrum of organizations involved in currency, document & product protection including central banks, banknote printing works, security printers, government departments and major industry suppliers. The conferences cover issues relating to banknote production and cash handling, passports, tax stamps, e-passports, e-ID card production and other areas involved in high security printing. Ian Lancaster, managing director of Reconnaissance International, said the acquisitions will be an excellent fi t with the company’s existing portfolio. “Recognising the success of the Cross Conferences we plan to retain this name, so they will continue to be known as ‘Cross Conferences,” he said. The Cross Conferences are a joint operation between the Cross Group and BSC International. The next four conferences will be transitional, organised jointly by Cross Group, BSC International and Reconnaissance International. Source: www.reconnaissance-intl.com www.homai.org Holostik creating hallmarks of success Holostik India, one of India’s premier holography companies, has achieved a turnover of Rs.71.60 crores, in the fi nancial year 2008-09, observing a growth rate of 23% over the vast base of the company, in spite of the recessionary environment seen the world over. This has been the result of an aggressive expansion strategy applied in security Hologram and Holography Products. Continuous and rigorous R&D has been instrumental in the introduction of many new products like window label, high security label and many new features in master origination. Another factor that has been responsible for its success story is the fact that the management of Holostik has focused on HR as an initiative to ensure complete employee satisfaction and security, leading to company growth. Some of the achievements of Holostik in the last fi nancial year (2008-09) are: • Turnover – Rs.71.60 crores (22.64% growth over 2007-2008) • New Orders – 819 (25.42% growth over 2007-2008) • In the last fi nancial year (2008-2009) company has produced 17.55 million square meter of hologram and holography products. The company and its employees have devoted a lot of personal time and energy in ensuring that Holostik has brought a sharper focus to the requirements of customers in every sense. A true recognition of that has been by way of business awards. The CMD Mr. U K Gupta was awarded the prestigious “Brian Monaghan Award 2008” for Business Innovation by IHMA. Holostik was awarded several HOMAI Excellency Awards for Holographic Packaging, Security / Authentic R&D, New Application, New or Innovative Technique Origination and Highest Growth. This year Holostik India Limited is focusing on many strategies and factors like productivity, cost reduction, maximum output, new product development for growth of export business etc. to ensure a drastic growth story. Other than this the group also has plans of diversifying into many sectors other than holography. Source: www.holostik.com 6
  7. 7. The Holography Times Company Profi le Holoflex growth with innovation Holofl ex Limited is one of the leading manufacturers of Holograms and allied products in India. An ISO 9001:2000 & ISO 14001:2004 Certifi ed Company - Holofl ex Limited is recognized worldwide as one of the most innovative and development-oriented product and document security solutions provider. Holofl ex has state-of-the-art manufacturing facility in Kolkata houses some of the most sophisticated machinery available in the country required for secure and high quality security applications. As one of the pioneers of this technology in India, Holofl ex Ltd. entered a nascent market, which needed extensive education on the concept of holograms. Today Holofl ex Ltd. provides a variety of customized holographic solutions to various government departments in India as well as numerous corporate houses in India and across 22 countries all over the world through its offi ces in Kolkata, Mumbai, Delhi, Chennai, Guwahati and various agents across the globe. Member of the International Hologram Manufacturers Association (IHMA), London, an exclusive body under the aegis of the Anti-counterfeit Bureau, International Chamber of Commerce, London, Holofl ex is also the Founder-Member of Hologram Manufacturers’ Association India (HoMAI), New Delhi the parent body of Indian Hologram manufacturers. Holofl ex has been acclaimed nationally & globally for its’ obsession to quality and focus on product innovation through various awards and commendations from IHMA & HoMAI. Holofl ex was awarded as the winner in the Best Hologram Label Category of IHMA Awards consecutively in 2003 & 2004. Back home Holofl ex achieved similar feats at HoMAI Awards. Additionally, Holofl ex have bestowed the honor of being the fastest growing company in the fi eld of holography consecutively in 2007 & 2008 by HoMAI. www.holofl ex.com www.homai.org 7
  8. 8. Cover Story The Holography Times Counterfeit deterrence: Currency design in India & abroad Despite the increasing use of electronic payments, currency retains an important role in the payment system of every country. However, today, the crime of counterfeiting currency continues to present a potential danger to national economies and financial losses to consum-ers at large. Recent seizures of large quantities of counterfeit bank notes reported in the press, suggest that, there has been a dramatic increase in the scale of currency counterfeiting in India. Thus, to sustain public confidence in a circulating currency, banknotes must contain features that the public can use to readily judge their authenticity and determine the notes’ denominations. In this article we study counterfeit money & its threat to society, explore the characteristic of an ideal currency & then examine real world considerations that affect currency design. We also compare and contrast design features in bank notes issued by monetary authorities of various countries, to deter counterfeiting, including India. First Indian Paper Currency www.homai.org History Of Counterfeit Money And Its Effects Banking in India started as an activity among the European traders, chiefl y the East India Company in the early 18th century. The fi rst bank to employ the concept of paper money was a bank set up in Calcutta by Governor Warren Hastings in c. 1770 AD. However, the idea of issuing paper currency by the Government was promulgated by Sir James Wilson, the Finance Member in the Executive Council of the Viceroy, in 1859. Accordingly, an act was passed in 1861, empowering the Government of India to issue currency notes. However, world over, with the invention of a banknote, arose another problem-that of counterfeiting. The crime of counterfeiting currency is as old as money itself. Modern counterfeiting began in 1650 A.D, when paper money was fi rst developed. Initially nations used it as a means of warfare, to overfl ow the enemy’s economy with fake bank notes, so that the real value of the money decreases. However, in the late twentieth century, with the invention of advanced machinery such as color copiers & other electronic devices, counterfeiting became easier and further fl ourished. Certain ill-effects that counterfeit money has on society are the reduction in the value of real money. Today, economists question whether fake currency, with its role in the economy of black markets, is a factor behind India’s record infl ation, due to more money getting circulated- an unauthorized artifi cial increase in the money supply. It further decreases the acceptability and hurts confi dence of consumers leading to mass panic. Such is the fear of being handed counterfeits that some people have stopped accepting Rs 500 notes. In these days, counterfeiting has also been used to promote and sponsor terrorism. In India, counterfeit currency has long been a source of funding for terrorism. Investigations into at least four cases — Hyderabad bombings of August 2007; the attack on the Indian Institute of Science, Bangalore, in December 2005; the Ahmedabad bombings of July 2008; and the 26/11 terror attack on Mumbai — revealed a link. Indian Banknote- Process And Circulation The Reserve Bank decides the volume and value of banknotes to be printed each year, depending on the requirement for meeting the demand for banknotes due to infl ation, GDP growth, replacement of soiled banknotes and reserve stock requirements. RBI designs and prints its own banknotes at its works in Nasik. The basic raw material for making cur-rency notes is cotton-based paper and special ink. While some quantity of paper used for currency is manufactured at the Hoshangabad Paper Mills, the rest is met through imports from four fi rms, Arjo Wiggins of France, Portal of the U.K. Gane of Sweden and Paper Fabric Luisantel. The Reserve Bank presently manages the currency operations through its 18 Issue offi ces. The Issue Offi ces of RBI send fresh banknote remittances to the designated branches of commercial banks. Once in circulation, banknotes pass many times between the public and businesses before fi nding their way back to RBI - either because they have become soiled or damaged in the course of transfers. The total supply of banknotes during 2007-08 (July-June) was 8,488 million pieces (7,348 million pieces during 2006-07). 8
  9. 9. The Holography Times Cover Story Trends In Indian Currency Counterfeiting Dangerously, counterfeiters have managed to fi nd their way into the offi cial banking system. Even though appropriate measures have been taken to prevent counterfeiting, in the larger reckoning, the problem remains. • Face value of counterfeit currencies seized from different parts of India, in the fi rst 10 months of 2008 was Rs. 5.6 Cr, three times more than in 2007 • In 2008, the CBI registered 13 cases having international/ inter-State ramifi cations relating to the recovery/ seizure of fake Indian currency notes. • According to a recent Government estimate, counterfeit currency amounting to Rs 169,000 crore is fl oating around in the Indian fi nancial system. From real estate transactions to ordinary grocery shopping, these bogus notes are being deployed everyday — sometimes innocently, sometimes with a sinister objective. • A few months ago, fake currency amounting to nearly Rs 3 crore was found in the chest of the State Bank of India’s Domariaganj branch in Uttar Pradesh. Some fake notes were also found in the currency chest of ICICI bank in Agra. The examples can go on. www.homai.org Counterfeit Notes Detected Denomination Number of pieces Value (Rupees) 2005-06 2006-07 2007-08 2005-06 2006-07 2007-08 1 2 3 4 5 6 7 Rs 10 80 110 107 800 1,100 1,070 Rs 20 340 305 343 6,800 6,100 6,860 Rs 50 5,991 6,800 8,119 299,550 340,000 405,950 Rs 100 104,590 68,741 110,273 10,459,000 6,874,100 110,237,300 Rs 500 12,014 25,636 66,838 6,007,000 12,818,000 33,419,000 Rs 1000 902 3,151 10,131 902,000 3,151,000 10,131,000 Total 123,917 104,743 195,811 17,675,150 23,190,300 154,201,180 Note: Data are exclusive of the counterfeit notes seized by police and other enforcement agencies. Measures Taken by RBI Various steps have been taken by the central bank to abolish counterfeit currency apart from legal action. The signifi cant increase in detection is attributable to installation of a)Note Sorting Machines (NSM’s) by all banks at their currency chest branches, to facilitate examination and detection of counterfeit notes at the currency chest level itself, b) the setting up of the Forged Note Vigiliance Cells (FNVC’s) at banks & c) Computerization of currency management to ensure stringent anti-counterfeiting management. Security features of currency notes are also upgraded from time to time. A broad level Strategic Planning & Technology Implementation Committee has been set up to conduct research and development in security settings. The RBI is also contemplating enhancing security features in Indian rupee note since this would be the most effective measure to control the threat. Recently, Government of India is keen to consider security products which have been developed and tested in at least three major bank notes in the world, in efforts to make counterfeiting diffi cult. The Indian government has invited global tender Different series of banknotes issued by RBI The Reserve Bank introduced the ‘star series’ numbered banknotes in the denomination of Rs. 10, Rs. 20 and Rs. 50 in April 2006. The star series of numbering is different from normal numbering, used for replacing the defective notes (single/packet) with star series notes. After successful introduction of star series in the denominations of Rs. 10, Rs. 20 and Rs. 50, the Reserve Bank will now be introducing non-sequential numbering for Rs. 500 and Rs. 1,000 denominations notes. With this system in place, a fresh banknote packet will have 100 pieces that may not be serially numbered banknotes from 1 to 100, since, it is essential to meet the demand for fresh banknotes by bringing greater efficiency at the presses. 9
  10. 10. Cover Story The Holography Times for participation in the process of short listing of Security features for bank notes It also proposes to withdraw all currency notes printed between 1996 and 2000 and gradually introducing a new series of currency notes. The fi nance ministry has set up a committee of representatives from the Department of Economic Affairs, Directorate of Enforcement, National Security Council, home ministry The Delhi Police Crime Branch is monitoring the fake currency and the Intelligence Bureau for curbing counterfeiting of network and has “stepped up intelligence significantly”, currency. RBI organizes training programmes, to detect fake currency, to bank offi cials, Govt. Department, police, according to K.K. Paul, joint commissioner of police (crime). paramilitary forces, etc. www.homai.org Security features in Indian banknote • Watermark - White side panel of notes has Mahatma Gandhi watermark. • Security thread - All notes have a silver security band with inscriptions visible when held against light which reads “Bharat” in Hindi and RBI in English. • Latent image - Higher denominational notes (Rupees 20 onwards) display the note’s denominational value in numerals when held horizontally at eye level. • Micro lettering - Numeral denominational value is visible under magnifying glass between security thread and latent image. • Fluorescence - Number panels glow under ultra-violet light. • Optically variable ink - Notes of Rs. 500 and Rs. 1000 have their numerals printed in optically variable ink. Number appears green when note is held fl at but changes to blue when viewed at angle. • Back-to-back registration - Floral design printed on front and back of note coincides and perfectly overlap each other when viewed against light. • EURion constellation • Intaglio Printing: The portrait of Mahatma Gandhi, the Reserve Bank seal, guarantee and promise clause, Ashoka Pillar Emblem on the left, RBI Governor’s signature are printed in intaglio i.e. in raised prints, which can be felt by touch, in Rs.20, Rs.50, Rs.100, Rs.500 and Rs.1000 notes. Characteristics Of An Ideal Currency • Extremely diffi cult to duplicate • Easily recognized by the general public • Durable (remains visible after considerable wear) • Can be machine-readable • Easy to produce at low cost • Acceptable to the public (aesthetically pleasing) • Non-toxic and non-hazardous What Are Other Countries Doing Innovation has intensifi ed the race between increasingly sophisticated counterfeiters and banknote designers. The improving performance and decreasing cost of information technology have reduced “barriers to entry” in counterfeiting. Thus, to control this menace, bank note designers worldwide have introduced a number of features to deter counterfeiting. Most banknotes incorporate several security features, including holograms, micro printing, serial numbers, and watermarks. Most notes also include one or more visual accessibility feature, including different sizes and principal colors for different denominations, oversize high-contrast numerals, and tactile features such as embossed numerals or recessed/raised dots. The goal of secure or ‘intelligent’ printing is to fi nd features which are prohibitively expensive to counterfeit. The ‘foundation’ of banknote security is paper. High quality paper is required for reasons of durability. Also, at least 20 countries, in the world, are using plastic notes, which are supposed to be more durable, being made of non- 10
  11. 11. The Holography Times Cover Story Currency Features - Features to assist authentication and www.homai.org Features to assist authentication for selected countries are summarized below. Australia Canada Euro Hong Kong SAR Japan India Sinagpore Sweden Switzerland UK USA denominations (Anti-counterfeiting measures) Background printing offset Y Braille codes Y Clear window Y Color changing number / Color shifting inks Y Y Concealed images / denominations Y Engraved Portrait Y Fine line patterns Y Y Fluorescent ink properties Y Fluorescent machine -readable barcode Y Fluorescent / UV light tests Y Y Y Holographic Stripe / Hologram patch / Holographic Window thread / Hologram / Kinegram / Foil-strip Hologram / Hologram & Foil Y Y Y Y Y Y Y Iridescent images Y Intaglio Printing / Raised Printing Y Y Y Y Y Y Y Y Invisible feature : non-refl ective under UV light Y Latent Image Y Y Lithographic Print Y Low vision feature Y Machine readable feature Y Microlettering Y Y Y Micropriniting Y Y Y Y Y Y Motion feature Y Optically variable ink Y Y Y Pearl Ink / Shimmering mother -of-pearl-ink Y Y Perforations Y Y Security thread Y Y Y Y Y Y Y See through window Y See through registration device / See through number / See through number / See through feature / Asymmetrical serial numbers Y Y Y Y Y Serial Number Y Shadow image Y Tactile marks Y Transparent register Y Ultra fi ne-line printing Y UV and Metallic digits Y UV light tests Y Y Watermark / Watermark portrait Y Y Y Y Y Y Y Y Y Y Window color shifting thread Y * Features fi lled with color are amongst most common measures used by various countries. 11
  12. 12. Cover Story The Holography Times porous polymer with a special protective coating that prevents absorption of moisture. Such notes are said to be more counterfeit-proof. Australia has started issuing plastic banknotes which contain clear plastic ‘windows’ (performing a function similar to watermarks in paper). Other features that are added during manufacture are, e.g. watermarks and ultraviolet (UV) fl uorescent fi bres; the security thread. The next layer of security is in the printed design. Inks which are diffi cult to obtain are commonly used, which can only be printed using high quality printers. The texture of the printed surface is also controlled: the raised writing e.g. on Bank of England notes (‘Intaglio’), which also requires special printing presses. Another graphical security feature is ‘registration’, where images printed on the front and back of notes coincide exactly when held up to the light. More ‘exotic’ (and expensive) security features are also available and introduced by various countries. ‘Optically Variable Ink (OVI)’, is used, which changes colour depending on the angle of view. Foil patterns of various complexities can be stamped onto a note. More advanced and diffi cult to counterfeit non-printed features include, advanced optical devices, such as holograms, and the Kinegram. These holograms are essentially a three dimensional drawing or photograph. Security holograms are mass produced, but the replication process requires specialized, let alone expensive, equipment to pull off. This is an advanced security feature utilized by many currencies such as the British Pound, the Euro, Canadian Dollars, Japanese Yen, the South Korean Won etc. Also, there is much research into new kinds of machine-readable features- that may prove very diffi cult to counterfeit. For example, ‘biological tagging’ using minute quantities of genetic material (DNA or RNA), and ‘phase masks’ which are high security laser-readable devices. In this analysis, we focus on currency design features that enhance counterfeit deterrence. All currencies issued worldwide contain some of these design features but, interestingly, different countries have made different choices. Recommendations Though the RBI and banks underplay the magnitude of the counterfeit problem in India, the last one year has seen a dramatic increase in seizures of fake currency in every single state-not surprisingly; the Border States witness more of these cases. What seems to be the main cause of concern is the changing pattern of counterfeiting, the global scale of operations and the fact that India has a vast parallel cash economy. Also, increased sophistication of fake currency highlights the fact that security measures employed by RBI need to be up scaled. If India has to combat the crisis, it has to fi rst tackle the area of bank note printing. Considering the nemesis that counterfeiting has on the economy, the governments of various nations have taken a number of steps to combat it. However, the monetary organizations the world-over, conclude that only continuous design innovation can sustain a low frequency of counterfeit notes in circulation –which holds true also for Indian bank note designers. All banknotes contain security features to deter counterfeiting. Some usual features include paper or polymer substrate and intaglio printing, which assist the public in authenticating notes by touch; and are most often detected by the public and bank tellers because “they don’t feel right.” There has been some talk of Indian moving to polymer notes like Australia. Other note features, include micro printing, magnetic inks, color-varying fl uorescent threads, infrared components, and holograms which are valuable authentication across wide range of devices, from handheld devices and ATM machines to high-speed currency sorters, as they appear as black/grey or brown patches on the surface of the counterfeits. Even though RBI uses most of these security features (as shown in table), it further needs to introduce certain advanced, diffi cult to counterfeit and easily recognizable features such as advanced optical devices like holograms and kinegrams. This is because the public generally does not inspect more than one distinguishing/visible security feature and remembering one single ergonomic verifi er in a banknote seems reasonable. To reduce counterfeits, Indian manufacturers have been consistently trying to convince the government to start using holograms on currency notes, something that currently more than 100 countries are doing. Also, changes in currency design prove to be an important tool to deter counterfeiting. European newspaper articles suggest that counterfeiting rates for the euro are signifi cantly lower than for the individual country bank notes that it replaced. News reports from Canada also illustrate the necessity for updating currency designs. In 2004-05, Bank of Canada introduced new security features like holographic strip, watermark portraits, color shifting threads, a see through number and enhanced fl uorescence to upgrade his currency. The new added feature sharply reduced the counterfeiting rate to 2.2 notes from 4.7 per 10,000 during fi rst eight months. Thus, combinations of features that score high on anti-counterfeiting should be incorporated into test banknotes. These could then be subjected to adversarial analysis to determine their deterrent effectiveness and used to gauge public acceptability through mechanisms such as focus groups. www.homai.org 12
  13. 13. The Holography Times Technology Also we can look at reducing the quantum of currency in circulation by encouraging banking and other transactions through instruments like online payments and use of plastic. Banks further need to adopt sophisticated detection technologies and follow procedure when it comes to reporting fake currency. The Government on its part should encourage fair and fearless reporting of the fake currency. Otherwise, in the normal course, the person making the report becomes the primary suspect. It also needs to distribute all compromised features of fake notes and make it available to all agencies associated with the investigation. The four main nodal agencies i.e. The CBI, the Directorate of Revenue Intelligence, The Central Economic Intelligence bureau, and the Enforcement Directorate need to look at various aspects of the problem and coordinate on a regular basis. Continuous advances in printing technology needs to take place, which will require banknote designers to work aggressively and keep changing and innovating, to remain ahead of sophisticated counterfeiters. Conclusion Currency is widely used in the payment systems of all countries. In each system, there are a large number of participants— households, retail merchants, fi nancial institutions, high-volume currency processors, and the central bank or currency-issuing authority. We may believe that the above means make take India to a country of zero counterfeit currency and accelerate the growth of our economy, however, the way, we in India, can tackle this problem is to exercise vigilance, on the part of every citizen, “If men were angels, no government would be necessary.” This battle against counterfeiting, is not only for the strong alone; but for the vigilant, and the active. Sources: www.bankofengland.co.uk, www.bankofcanada.ca www.wikipedia.org/wiki/Counterfeit www.cbc.ca, www.banknotes.com www.homai.org Holographic solar A scientific & novel approach in solar energy generation Worldwide solar-energy output has grown dramatically in recent years. The total output from solar installations worldwide, however, remains around 7 GW, only a fraction of the world’s energy requirement. High material and manufacturing costs, low solar-module effi ciency, and worldwide shortage of refi ned silicon all have limited the scale of solar-power development required to effectively compete against coal and liquid fossil fuels. Solar photovoltaic cells have been developed but using them has limitations. The main limitation of solar power right now is cost, because the crystalline silicon used to make most solar photovoltaic (PV) cells is very expensive. Thus a number of alternate approaches are being explored to improve the cost per kilowatt of solar power. Use Of Optics In Solar Energy Generation Attention has been given to optics technologies in solar energy generation. A novel approach to concentrating PV solar is being proposed by Prism Solar Technologies. Instead of using mirrors or lenses to concentrate the sunlight holograms are used. Holographic planar concentrator (HPC) is an approach that uses fewer solar cells and more effi ciently harvests the sunlight, so that systems can be produced at lower cost than competing solar technologies. The system needs 25 to 85 % less silicon than a crystalline silicon panel of comparable wattage, because the photovoltaic material need not cover the entire surface of a solar panel. Instead, the PV material is arranged in several rows. The holographic concentrator utilizes a two-stage optical concentrator and silicon PV cells. A concentrator is built up from several layers of fi lm composed of gelatin on polyethylene terephthalate. The hologram spectrally selects sunlight and collects and concentrates it. A layer of holograms -laser-created patterns that diffract light -refl ects selected frequencies of light to the mirror-like inside surface of the upper transparent glass where it continues to be refl ected until it reaches a solar cell. Like other concentrating PV systems one of the advantages of this system is that it uses less silicon than conventional PV modules. There are two designs of a Holographic planar concentrator - a monofacial design and a bi-facial design. A mono-facial module design (that is, one that collects solar energy from the front only) uses 50% less silicon than a conventional panel whereas a bifacial HPC confi guration uses 72% less silicon than a fully populated module. This can also be viewed as a 300% increase 13
  14. 14. Technology The Holography Times www.homai.org in watts/gm of silicon, an important consideration in light of worldwide shortage of refi ned silicon. A second important benefi t of the holographic concentrator is the “passive tracking” characteristic which requires no moving parts. This means that it collects indirect & diffuse light throughout the day and through clear and cloudy condition. Different holograms in a concentrator module can be designed to focus light from different angles -- so there is no need of moving parts to track the sun. This gives greater output in the early morning and late afternoon. The third advantage is that it requires no external cooling. The performance of PV cells in conventional modules tends to drop signifi cantly as temperature increases, since infrared radiation would be converted to heat rather than output energy. In an HPC-based module, the radiation passes through the fi lm and is not absorbed. The concentrators’ ability to pass unusable wavelengths means that the solar cells remain close to their ideal operating temperature without mechanical cooling. The effi ciency of Holographic planar concentrator remains high for lower-light conditions and performs better as temperature increases, because of the ability to pass infrared wavelengths and also because heat can be dumped into a larger volume of material than in a fully populated module. One last advantage of the holographic module is that, because of its inherent passive tracking characteristics, it can be mounted in a variety of locations and orientations, including commercial white roofs, fl at and inclined roofs, windows, vertical walls, etc. Passive tracking increases the irradiance to the solar cells even when they are mounted in a less than optimal orientation. With these features, it is believed that holographic technologies might be next promising frontier for increasing energy effi ciency from solar photovoltaic modules. Events & Calendar 6TH PISEC June 22-24, 2009,Athens, Greece www.cross-conferences.com Pharmaceutical Anti-Counterfeiting Workshop May 5-7, 2009, New Delhi www.lexisnexis.com 23rd International Security Printers Conference May 13-15, 2009, Stockholm, Sweden www.intergraf.eu Global Pharmaceutical Fraud & Anti Counterfeiting Conference 2nd – 3rd July 2009, Singapore www.globalpharmafraud.com Pack Plus 2009 July 8-11, 2009 www.print-packaging.com Asia Print & Pack Expo 2009 August 28-31, 2009 www.asisprintpackexpo.com Holo-pack Holo-print 2009 November 11-13, 2009 -Budapest, Hungary www.holopackholoprint.info Editorial Board C S Jeena Neha Gupta The Holography Times is published by HOLOGRAM MANUFACTURERS ASSOCIATION OF INDIA (HoMAI) 21-Ground Floor, Devika Tower 6, Nehru Place, New Delhi110019, INDIA Telefax: +91-11-4161 7369, Email: theholographytimes@gmail.com Disclaimer: The data used here are from various published and electronically available primary and secondary sources. Despite due diligence the source data may contain occasional errors. In such instances, HoMAI would not be responsible for such errors. Glass Hologram Glass SUNLIGHT Simplified Cross-Section Schematic Cell Spacing 14
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