production of banknotes

This tag is associated with 7 posts

Indian charity issues zero rupee banknotes

Fifth Pillar, an Indian charity that confronts corrupt officials, has issued a zero banknote as a way to protest ongoing bribery and extortion in the country. The notes have no value, but look identical to Indian banknotes and carry the slogans “Eliminate corruption at all levels” and the pledge “I promise to neither accept nor […]

“Counterfeiting, A Three-Part Series.” Part 1: A history of counterfeiting

*This article is the first in a three-part series on counterfeiting. The act of counterfeiting is as old as money itself. Plaguing ancient Rome, empirical China, newborn America, and many other nations over the past 2500 years, the illegal activity came hand in hand with the creation of money. Even prior to the invention of […]

ECB: Counterfeit euros up 8 per cent

The European Central Bank (ECB) announced today that the number of fake euro banknotes seized in the last six months rose by eight per cent from the first half of the year. “In the second half of 2009 a total of 447,000 counterfeit euro banknotes were withdrawn from circulation,” an ECB statement said. Though the […]

India Attempts Crack Down on ‘Financial Terror’

India will put together a ‘financial terror dossier’ this week in an attempt to garner international support in pressuring Pakistan to immobilize a booming counterfeit currency ring that exports bogus Indian banknotes into the country. Since the attacks in Mumbai last November, India has been aggressively building a number of cases against the neighboring Pakistan, […]

Turkey Enters Second Phase of Currency Reform

On January 1, 2010, Turkey will begin the second phase of its planned currency reform that will see the country stop production of their current banknotes (the New Turkish Lira) and replace them with a new currency series, simply called the Turkish Lira. This second phase comes five years after the country first redenominated its […]

North Korea Changes Currency and Rates 100 to 1

The North Korean government announced this week that it would be redenominate their current currency and replace old banknotes with new ones of a drastically lesser value. Though the currency will keep the same name (the won) one hundred old won is now only worth one won – 1/100th of their previous worth. The government […]

Helping Protect Financial Integrity

History has shown that our increasing complex financial system faces some unique challenges. Recently, the world of high finance collided with Main Street and the average investor was left to decipher why esoteric instrument such as derivates, swaps, counter-party agreements, packaged subprime loans and credit default swaps were impacting their investments and retirement savings. Overshadowed […]