In 2018, 1,226 counterfeit banknotes were withdrawn from circulation in Azerbaijan, which is 14.8 percent less than in the previous year, a source in the Central Bank of Azerbaijan (CBA) told Trend.
In 2017, 1,322 banknotes were withdrawn from circulation, according to the source. In the first quarter of 2019, a total of 275 banknotes were seized.
“Many innovations are taking place in the field of combating the counterfeiting of banknotes, new innovations, nano and micro technologies are being widely used to improve the design and protection systems of banknotes,” the source noted. “Leading global banks in order to minimize the risks associated with counterfeiting of banknotes are constantly working to update the design of banknotes and security systems, and bring them in line with higher standards.”
In response to these challenges, the CBA has recently updated a 10-manat banknote, retaining the basic design elements and improving the security system.
The new 10-manat banknote, which entered into circulation since March 18, 2019. With this example, it is possible to the security features that will allow for distinguishing a fake bill from a real one.
According to the Central Bank, given the latest technologies and innovations used globally, the matter of improving the design and systems of protection of banknotes is constantly kept in the center of attention of the monetary regulator.
The most popular ways for counterfeiting money
Usually, banknotes in Azerbaijan are counterfeited with scanners, color printers and computers.
An example of counterfeit banknotes in normal and ultraviolet lighting. Source: Central Bank of Azerbaijan.
Among the methods of counterfeiting banknotes, there are also examples of creating banknotes by using different parts of real banknotes.
Source: Central Bank of Azerbaijan
Or connecting a part of a real bill with a counterfeit one, as in the picture below (the left side is real, the right is counterfeited):
The most commonly forged banknotes in Azerbaijan
One manat banknotes were the most commonly forged banknotes in Azerbaijan in 2018 [the data from the e-services website of the Central Bank of Azerbaijan for 2006-2018]. Thus, 34 percent of all "forged banknotes" account for one manat banknotes.
By popularity five manat banknotes (29 percent) rank second among counterfeiters, while 20 manat banknotes rank third (13 percent).
Other banknotes are in less demand among counterfeiters. Among them are 100-manat banknotes and 10-manat banknotes, which account for 11 percent and seven percent, respectively, of all counterfeit banknotes from 2006 to 2018.
Fifty manat banknotes (six percent) and 200 manat banknotes, counterfeit banknotes of which have not been registered yet, are the most unpopular banknotes among counterfeiters.
Follow us on Twitter @AzerNewsAz