A survey conducted by the crime reduction initiative shows that there are now 57,480 systems in use, with 26,000 deployed for retail/financial cash protection and another 31,480 used in cash-in-transit and ATM protection.
Chairman of Banknote Watch, Alan Townsend, comments: "Banknote Watch aims to raise awareness that 'a stained note is probably a stolen note' to improve the deterrent value of cash degradation systems and consequently to help reduce commercial crime. Since the launch of the initiative five years ago, the number of cash degradation systems has almost trebled."
The 'new age' of cash degradation systems contain unique taggants that link each note back to its source, essentially creating a DNA-equivalent for banknotes. The crime reduction potential of these systems is much anticipated.
Townsend comments: "In addition to their deterrent value, cash degradation systems also generate an evidence trail if a crime does occur. With new unique taggants being used as part of these systems it is possible to trace specific notes back to their owner, which is helping the Police with their investigations and securing more convictions."
Banknote Watch will be launching a major awareness campaign later this year with new posters and flyers available for retailers and financial institutions, as well as dedicated guidance material for Police investigating crimes where stained notes are recovered. More information on this campaign will appear on the Banknote Watch website in the near future.