Make sure you are not caught out by fake banknotes
After the TMPD seized R3.5-million in counterfeit money, the SARB believes it is important to know how to spot counterfeit banknotes.
After law enforcement agencies recovered R3.5-million in counterfeit banknotes last Friday, the question that arises is how many of these notes are now in circulation across the metro.
SA Reserve Bank (SARB) spokesperson Ziyanda Mtshali said it is the responsibility of the bank to secure and maintain the integrity of banknotes and coins in circulation.
Mtshali said the bank has to ensure that banknotes and coins remain a secure method of payment, unit of account and store of wealth.
“To confirm that you have a genuine banknote, the ‘look, feel and tilt’ authentication method can be used to check the security features,” Mtshali said.
“Where one or more security features are missing or could not be identified as per the authentication method, there’s a possibility that the banknote might be forged.”
According to the SARB, this is how to spot fake banknotes:
– By holding a banknote up to the light, you should be able to see the shiny strip, which becomes a continuous solid line when held to the light. The words “SARB”, “Rand”, the denomination and the South African coat of arms should be visible.
– You should be able to see the watermark, the embedded image of Nelson Mandela with the denomination.
– By lightly running your fingertips over the front side of the banknote, the portrait of Nelson Mandela and the words “South African Reserve Bank” will feel slightly raised or rough.
– You should also be able to feel the raised lines on the bottom left and right of the front. These lines are aids for the visually impaired. The R10 has one line, the R20 two, the R50 three, the R100 four and the R200 five.
– By tilting the banknote, the metallic thread will reflect light and exhibit a slight colour shift.
– The numerals on the bottom right are printed with colour-changing ink. The R10 and R20 banknotes exhibit a slight colour shift, whereas the R50, R100 and R200 banknotes appear to have a moving line.
Mtshali urged residents to report any counterfeit banknotes to their nearest police station.
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