KUALA LUMPUR: Bank Negara Malaysia (BNM), in collaboration with the Association of Banks in Malaysia and the Royal Malaysian Police (PDRM), today introduced ink-stain technology to combat theft involving automated teller machines (ATM). The technology, developed by French company Oberthur Cash Protection, releases indelible ink to smear currency notes on the corners, when there is an attempt to tamper with the protected ATM. BNM Deputy Governor Datuk Muhammad Ibrahim said the stained notes would lose their legal tender and thus, cannot be brought back into circulation. "To make the initiative effective, the public must play their civic duty by being vigilant when receiving stained currency notes, which are most likely stolen. "The stained notes cannot be washed and must be returned to the central bank for replacement," he said in his speech at the launch here today. Also present was the Association of Banks in Malaysia chairman and Maybank group president/chief executive officer Datuk Abdul Farid Alias, as well as, PDRM commercial crime investigation department director, Datuk Seri Mortadza Nazarene. Meanwhile, Oberthur Cash Protection sales and operations director, Eric Hauw said the technology was developed in the last decade and had been rolled out in 25-30 countries in Western Europe, Latin America and Africa. "Malaysia is the first country to use the technology in Southeast Asia and we hope to see the same success rate here as the other countries," he added. Hauw said the cost to install the system was a 30 per cent additional expenditure per ATM. BNM also launched today a new smartphone application, "My Ringgit", an interactive educational tool for learning and exploring the Malaysian currency.-Bernama

Source:
TheMalaysianReserve;
https://themalaysianreserve.com/2017/03/31/bnm-ink-stain-tech-my-ringgit-app-to-deter-currency-theft/