‘Inked banknotes’ is the new security system to deter crime, according to ECB resolution

One new mechanism to automatically ink banknotes if they are subjected to attempted theft will be applied in Ecuador in the coming months. There is already Resolution No. 017, taken on December 29 by the Central Bank, which establishes the procedure for the implementation of the “Intelligent Banknote Neutralizer System by financial institutions”.

This security mechanism consists of a inked device of bills that It is automatically activated when an attempted robbery is detected at ATMs and when the bills are transported and guarded.

In the event of robbery at ATMs, this system ejects a special ink that permanently stains the banknotes, making the money lose its value, since it cannot be accepted as a means of payment.

The security ink of this system leaves a noticeable trace, which extends towards the center of the banknotes and is usually more visible at the edges. This intelligent inking mechanism is easily recognizable and differs from other types of stains that banknotes may have, as this ink stains a large part of the banknote and it cannot be removed by any process or with any substance.

In this sense, the ECB recommended that citizens and businesses that carry out cash transactions not accept these inked bills as they are stolen money.

Additionally, he clarified that the Central Bank of Ecuador will not accept directly at its exchange windows bills from natural or legal persons that have been inked through the Intelligent Banknote Neutralization System. The resolution determines that Only financial entities that totally or partially recover these inked banknotes will be able to exchange them at the Central Bank, after filing a complaint with the competent authorities.

The financial entities that adopt this system must notify its implementation to the BCE and comply with the established requirements.

Marco Rodríguez, executive vice president of the Association of Private Banks of Ecuador (Asobanca), considers that Resolution No. 017, issued by the Central Bank of Ecuador (BCE), is a positive security measure, because the intelligent inking mechanism can mitigate the risk of theft of ATMs and bill transport vehicles.

This is because hethe stained tickets with this type of ink they can no longer be used as means of transaction.

The intelligent banknote neutralizing system (banknote inking mechanism) is a tool that It is already used in other countries and has been useful in deterring criminals who commit this type of crime in ATMs and vehicles. that carry banknotes.

Security is one of the priorities for Ecuadorian private banking, which is why private banks consider that the resolution will be a very useful tool to help in the fight against this type of crime.

private banks will gradually implement the Intelligent Banknote Neutralizer System.