Fed aids banks on code to deter counterfeiting

The new currency of the US twenty dollar bill

With digital technology making currency counterfeiting easier than ever, the Federal Reserve is helping international bankers develop software to combat illegal money creation.

The Central Bank Counterfeit Deterrence Group, made up of Federal Reserve banks and the central banks of other G-10 nations, has released its code free of charge to the digital-imaging industry, Fed spokeswoman Susan Stawick said.

The deterrence software made its debut in October in Adobe Photoshop CS, said Russell Brady, a spokesman for Adobe Systems Inc.

An update of the Adobe Photoshop informational Web pages will explain the anticounterfeit feature and direct users to www.rulesforuse.org, a portal describing reproduction laws for the world's major currencies.

The Fed allocated $2.9 million in fiscal 2003 for counterfeiting deterrence research, according to a budget document on the board's Web site.

inside gcn

  • analytics (Wright Studio/Shutterstock.com)

    3 data strategies to help crackdown on internal corruption

Reader Comments

Please post your comments here. Comments are moderated, so they may not appear immediately after submitting. We will not post comments that we consider abusive or off-topic.

Please type the letters/numbers you see above

More from 1105 Public Sector Media Group