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Banknote Watch South Africa launched

Banknote Watch South Africa (BNW SA) was officially launched in December 2008 with the mission of enhancing cash security in South Africa through national awareness campaigns about the deterrent effect of banknote degradation technologies.

The new organisation intends to make a contribution to crime prevention in the run-up to the FIFA 2010 Soccer World Cup in South Africa through greater protection of cash.

BNW SA is a multistakeholder initiative for stopping criminals profiting from the proceeds of crime through halting the circulation of stained bank notes. Its core slogan 'a stained note is probably a stolen note' sums up the purpose of the new crime prevention body: to ensure that cash protected by ink-staining technology during a criminal attack is withdrawn from circulation and thereby rendered useless for the criminals.

“The approach of note staining is to remove the criminal reward for attacks on cash altogether,” explained chairman and secretary of BNW SA, Mike Lee, who is also CEO of the global ATM Industry Association (ATMIA) (www.atmia.com). “The South African Reserve Bank, commercial banks, cash-in-transit companies, retail organisations 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.”

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