Central African Bank Embraces Mobile Technology to Combat Counterfeit Money
New Mobile App Helps Fight Counterfeit Banknotes in Central African Region
The Bank of Central African States (BEAC) has introduced a new mobile application called "BEAC NG2020" to assist in authenticating its "Type 2020" banknotes. This digital tool is designed to combat the spread of fake currency in the Central African Economic and Monetary Community (CEMAC) region.
The BEAC NG2020 app is a valuable resource for both the general public and cash-handling professionals, including merchants, commercial banks, and microfinance institutions. It provides a guided comparison of the banknotes' security and identification features, making it easier to detect counterfeit versions.
The app offers detailed visuals and tactile feature descriptions of the official 2020-series banknotes. Users can follow a step-by-step guide to compare physical banknotes with the security elements presented in the app. This feature allows for quick verification directly via mobile devices, offering a convenient solution to combat counterfeit money.
The BEAC NG2020 app demonstrates how to authenticate notes by tilting them to observe dynamic 3D motifs and by placing them under a UV lamp to see specific fluorescent features. These security measures are crucial in ensuring the authenticity of the banknotes.
The app is available for free on both the Apple App Store and Google Play Store, supporting Android and iOS phones. BEAC encourages the public and professionals to make extensive use of the app to help in the fight against counterfeit money.
This new development is part of a broader set of measures aimed at ensuring confidence in the currency issued by the Bank of Central African States (BEAC). By combating counterfeiting, the app is expected to be beneficial for the general public and financial professionals in the Central African region.
[1] Source: Central African Bank Launches Mobile App to Combat Counterfeit Banknotes [4] Source: BEAC Launches Mobile App to Fight Counterfeit Banknotes [5] Source: New Mobile App Helps Central African Banks Fight Counterfeit Banknotes
The BEAC NG2020 app is beneficial for financial technology, such as mobile banking and digital payments, as it ensures the authenticity of the Type 2020 banknotes, safeguarding the security of financial transactions in the Central African region.
This technology-driven initiative by the Bank of Central African States (BEAC) not only supports merchants, commercial banks, and microfinance institutions but also empowers the general public to verify banknotes using their mobile devices, thereby enhancing overall financial security.
