Banknote scepticism

AMID THE recent circulation of Jamaica’s new banknotes, some local businesses have raised concern about the sector’s readiness to distinguish between those which are genuine, as opposed to others that fraudsters might introduce into the system at some point that would be counterfeit.

On Thursday, the new banknotes were officially launched at the Bank of Jamaica (BOJ) and made available to Jamaicans across the island to be used in their everyday purchases.

Some individuals within the sector said that while they were not reluctant in accepting the new banknotes, they are currently unaware of what to look out for in the event that the note used in a transaction was not authentic.

For Aneita Phang, owner of D’Endz bar located in the Allman Town community, the new notes represented a positive move towards the development of the country.

She told The Gleaner yesterday that the new notes have neither been spent at her establishment, nor has she got the opportunity to interact with one. She added that she longs for the chance to “study it out good”, ensuring to take in all the visual and tactile features which will help her to determine the authenticity.

Phang said that she believed that while the security features were said to be stronger, this would not stop the criminal elements from trying their hand at counterfeiting the dollar.

“Eventually, if dem ago fake it dem will fake it because Jamaican people fake anything dem wah enuh, nuh care what strategy dem come wid, dem have a strategy to go ‘round everything,” she said.

A sales representative employed at a clothing store in Cross Roads, who wished to remain anonymous, told The Gleaner that before the new notes were launched and moved into circulation, greater focus needed to be placed on educating the public on ways to ensure the note is authentic.

“Remember, this is something new and you know how we Jamaicans relate to stuff and we don’t even think. Whatever is new, it is exciting for a time, so if we are not sensitised ... then we don’t know what to expect,” he said.

He raised concerns about whether the new notes were compatible to use with current counterfeit bill detectors/scanners, or if new machines would need to be purchased by store owners.

“That’s another factor because I’m thinking that it won’t since the texture and material are different,” he added.

David Loague, manager of Silver Slipper Liquor Store in Cross Roads, told The Gleaner that taking time out to properly assess the new notes was a practice that many other business owners and those involved in commerce should engage in.

“I’ll have to look and examine it carefully because you know, any currency you take you have to look to see if you see any changes before you scan them and make a note of it,” he said.

Loague, who had not interacted with the new banknotes up to yesterday afternoon, stated that he is looking forward to getting his hands on one. He suspects that the security features put in place would undoubtedly prevent the possibility of counterfeiting.

“If you notice, you never see nobody try to counterfeit the US and the Canadian currency since it come in,” Loague said, adding that Jamaica was now up to standard.

He expressed full confidence in the system and said he was in support of the change.

“I am a person that is here for change, because I actually [saw] someone last night and they were criticising the note and people began to politicise the note and I think they are younger people and I think they would a able to adjust more than like me weh up inna age,” he expressed.

The new banknotes are produced using polymer which is a thin, transparent and flexible plastic film made from a versatile and complex material. They are cleaner and more hygienic than paper notes because they are resistant to dirt, moisture, water and other liquids. It also allows for the incorporation of advanced security features, thus making the notes more difficult to counterfeit. It is stronger and more durable than paper and is expected to last at least 50 per cent longer than paper notes. This also makes the notes more environmentally friendly.

How you can detect genuine new (polymer) banknotes?

Feel: Run your fingers over the top right-hand corner of the back of the note to feel the raised dots feature, which is for the visually impaired and is applied to all six banknotes.

Look: When the note is held up to light, look for a clear window that can be seen from both the front and the back of the note and this applies to all six banknotes. The letters BOJ will appear in an area of coloured print as well.

Tilt: Areas with a shimmering gold ink can be seen on the $50, $100 and $500 only. The colours of the images in the holographic foil change. The holographic foil is on the $1,000, $2,000 and $5,000 only. There is a silver ink that has a highly reflective mirror-like finish on the $50, $100 and $500 only.

Check using an ultraviolet (UV) light: Some areas of the note glow in two colours. The denomination will also appear. This applies to all six banknotes.