CAPE TOWN, South Africa — The recently launched Banknote Watch South Africa is a new organization that aims to enhance cash security in South Africa through national awareness campaigns about the deterrent effect of banknote-degradation technologies.
The group expects to improve crime prevention in the country as South Africa prepares for its hosting of the FIFA 2010 World Cup.
According to a news release, BNW SA is a multistakeholder initiative for stopping criminals from profiting from the proceeds of crime through halting the circulation of stained banknotes. Its core slogan, "a stained note is probably a stolen note," sums up the purpose of the new crime-prevention body. It is to ensure that cash is protected by ink-staining technology during a criminal attack is withdrawn from circulation, thereby rendering it useless for criminals.
"The approach of note staining is to remove the criminal reward for attacks on cash all together," said BNW chairman and secretary Mike Lee, who also heads the global ATM Industry Association. "The South African Reserve Bank, commercial banks, cash-in-transit companies, retail organizations and the ATM industry form the backbone of the cash cycle. Banknote staining technology is aimed at offering a new level of protection for cash, including at our country's ATMs."
BNW SA will launch its first South African campaign promoting the key concept that "a stained note is probably a stolen note" just before Easter 2009. BNW SA will function in affiliation with Banknote Watch International and Banknote Watch UK (http://www.banknotewatch.org).
Current BNW SA members include the South African Reserve Bank, SABRIC, Consumer Goods Council of SA, Standard Bank, Nedbank, First National Bank, Deter-A-Dye, Cash Connect Management Solutions, Cash Dye SA, QD Group, ATMIA, Oberthur Technologies, BNW International, Villiger Security.
For more information, contact Mike Lee.
