SBP Launched Fake Money Detecting App titled Pakistani Banknotes

Making the campaign “Rupay ko Pehchano” more effective, State Bank of Pakistan (SBP) has officially launched a smartphone application to detect the fake money. This app will let the users verify the notes before accepting. For the education of the users, five tutorial videos have been also developed for Rs. 5,000, Rs. 1,000, Rs. 500 and one collectively for Rs. 10 to Rs. 100 and one video especially for highlighting the security features of all currency notes currently recognized as the legal note in the country.

This SBP Money Detecting App is available for both Android and iOS users. This will show the information about the currency notes both in video and pictorial formats for the ease of the users. The decision for developing a comprehensive app for detecting the fake money was taken in the start of the year 2015 that is now successfully become the reality.

Talking at the launching ceremony of videos and smartphone application, the Governor SBP, Ashraf Mahmmod Wathra said, “SBP has adopted a three-pronged strategy to combat counterfeiting which involves: i) enhancing the security features of our currency notes to make counterfeiting, even more, difficult; ii) automation of cash processing function in the banking system to ensure that no fake note passes through the banking system; and, iii) creating awareness amongst general public about security features of the currency notes to help them differentiate between genuine and fake notes.”

According to press release of the External Relations Department of the SBP, this app that is named as Pakistani Banknotes will assist the users in identifying and checking the security features of the Pakistani Banknotes as hidden by the SBP ion every currency note and will result in save in time and from the risk of fake and counterfeit notes. Those who wants to use this service for checking currency notes are required to select the desired note image or video and compare it with those in their pocket to see whether all security features that are being displayed by the app are available in the money in hand or not.