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Czech Bank app checks for counterfeit cash

Thursday, March 22, 2012 - 01:50

March 22 - The Czech national bank has unveiled a new phone app which it says will help consumers identify counterfeit money, using detailed photographs and descriptions of all valid versions of Czech banknotes and coins. With the Euro coming under criticism throughout Europe, the Czechs see value in protecting their traditional currency, the koruna. Jim Drury reports.

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The history of money goes back thousands of years. But with criminals ever more adept at producing counterfeit banknotes, some believe cash has had its day. The Czech National Bank, though, believes it has the answer. Its new phone app helps people check the legitimacy of Czech banknotes. Bank spokesman Marek Petrus. SOUNDBITE (English) CZECH NATIONAL BANK SPOKESMAN, MAREK PETRUS (PRONOUNCED: PETH-ROUGE), SAYING: "The application allows you to view bank notes and coins of the Czech currency in detail on their mobile devices. They can familiarise themselves with the protective elements of various bank notes and they can also compare the banknotes they have in their own pocket." Using the camera on an iPad, iPod or iPhone, the app can tell if the security elements of individual koruna banknotes are legitimate. The app, available in Czech and English and free to download, includes detailed photographs and descriptions of all valid Czech banknotes and coins. SOUNDBITE (English) PETRUS SPEAKING OVER CLOSE-UP OF HIS HAND MOVING BANKNOTE ON IPAD "One can use the so called 'look through' feature and see how the various bank note should look like." The iPhone's accelerometer, which detects the device tilting, allows the user to examine the notes' watermarking in detail, in conjunction with an internal backlight. For new banknote versions containing upgraded watermarking elements, evidence of optically variable ink can be viewed by tilting the device. The bank hopes others around the world copy its idea, so that cash can remain king. Jim Drury, Reuters

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Czech Bank app checks for counterfeit cash

Thursday, March 22, 2012 - 01:50