Ignorance can be excused, but not when you are in possession of counterfeit notes or currency. In the eyes of the law, possession of counterfeit notes or currency, knowingly or unknowingly, is a crime and hence punishable. But how can the common man distinguish between real and fake? This requires prior knowledge of the features of an authentic note of the same denomination, plus equipment to test and compare the features of a particular note against those authentic features.Last month, Hometronics India, part of the Vijlaxmi group of companies, launched an indigenously developed, automatic counterfeit currency detecting machine, called Scantron.
The machine can not only detect counterfeit currency, it can also detect fake credit cards, passports, cheques and other legal documents containing chemical features. Initially launched in Mumbai, the Scantron is available in four different models, ST 100, ST 1100, ST 2000 and ST 2001.
Though it makes sound sense for banks and finance and corporate houses to invest in such machines, small businessmen and even individuals can also afford the Scantron, so reasonably is it priced. The price ranges between Rs 1,260 and Rs 39,860.
Scantron ST 100 uses an ultraviolet lamp to detect counterfeit currency (both Indian and foreign), credit cards, passports, cheques and chemically altered legal documents. The machines is also capable of carrying out all necessary checks endorsed by private and public banks in the country. The ST 100 is fitted with an audio warning system, a magnetic sensor, a water mark detector and an in-built calculator.
The ST 2000 machine incorporates currency counting and counterfeit detection features simultaneously. This machine is specially designed to suit Indian currency. ST 2001 includes features such as batch-wise money counting. It will suit larger banks and cash counters, or places that handle large volumes of currency.
Counterfeiting of currency is not new or limited to any particular part of the globe. In India, counterfeiting is a regular given, despite major efforts by the police and the government in combating it. The Reserve Bank of India (RBI) has also launched a campaign to educate the masses about the identification of authentic currency.
"But the crooks are clever enough to take the help of technology and fox all efforts made to cope with the counterfeit problem," said Tamilrajan, a Hometronics spokesperson.
The public is considered the first line of defence against counterfeiting. This requires that people should scrutinise their currency consistently. A consistent examination of notes also reduces the risk of loss. So, check the currency you receive carefully before putting it into your purse.
Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.