SBP Developing App to Help People Identify Counterfeit Currency Notes

- Pakistani

SBP is developing app to help people identify counterfeit currency notes. The State Bank of Pakistan (SBP) gave a statement about the existence of fake currency notes in the market.  Some anti-state elements are involved in this illegal practice to harm the national economy.

State Bank of Pakistan (SBP) Acting Governor Saeed Ahmad has said that anti-state elements are involved in spreading counterfeit currency in the country to undermine the national economy.

counterfeit currency notes

Speaking at a conference on “Currency management: strategies for the future” organised by the SBP here on Tuesday, Ahmad said the central bank is very vigilant on the matter and the media must also create awareness by filming a documentary.

His statements have called for people to be cautious and vigilant on this matter. State Bank of Pakistan (SBP) is working on some strategies to inform the people how to look out for the warning signs.

Anti-state elements are involved in making fake currency to harm the economy of Pakistan

SBP is making a documentary, comprising of various strategies that people can use to detect whether the notes are authentic or fake.

For the completion of this project, it has also hired security experts and mobile app developers to develop a mobile app that can help people to identify counterfeit notes via their phone camera. This app is expected to be released once its tested in detail.

SBP hopes that their app can pinpoint the authentic notes which have a host of special security features.

In order to provide more security to the public, SBP is looking to introduce and incorporate hologram and other specialized security measures in future currency notes.

It is an expensive attempt and SBP officials are still trying to get these advanced security features.

counterfeit currency notes

SBP app will help people to identify fake currency through app that uses the smartphone camera

This article is a very effective starting point to go further about how to spot a fake currency note.

There are many security features in Pakistani currency that can help differentiate between genuine and fake currency notes. These features are very effective that they are very hard to duplicate in counterfeit notes.

However, so many people are unaware of these features and this campaign will help them in identifying the genuine and fake currency notes.

What do you think about this initiative that SBP is spreading enough awareness? If you want to recommend any option share your comments.

Counterfeit notes: SBP to bring new security… by dawn-news

  • Mobeen Mushtaq

    nice take decision