Glossary

Skimming occurs when devices illegally installed on ATMs, point-of-sale terminals, or fuel pumps capture data or record cardholders’ PINs. Criminals use the data to create fake debit or credit cards and then steal from victims’ accounts.

A plastic card with a built-in microprocessor, used typically for electronic processes such as financial transactions and personal identification.

A self-executing contract with the terms of the agreement between buyer and seller directly written into lines of code. The code and the agreements contained therein exist across a distributed, decentralised blockchain network.

Smart glasses integrate wireless networking and images into the frames and lenses of eyewear, just as with home computers and smartphones.

A cellular (or mobile) telephone with an integrated computer, camera, and other features not originally associated with a mobile phone.

A device for making the cash management of a retailer more efficient. Banknotes and/or coins deposited into the device are counted and provisionally credited to the account holder. The retailer does not have access to the contents of the safe, which is usually serviced by a cash management company.

the fraudulent practice of sending text messages purporting to be from reputable companies in order to induce individuals to reveal personal information, such as passwords or credit card numbers.

The illegal transportation of objects, substances, information or people across an international border, in violation of applicable laws or other regulations, often to avoid taxation.

A banknote that has become dirty through usage, usually from greasy materials sticking to the surface or from the absorption and adhesion of dust and particles to the cotton fibres of the note. Soiling is one of the main reasons for banknote deterioration and subsequent destruction.

The process of fitness sorting of banknotes by their condition of use. Through this process, used banknotes are classified as fit or unfit to return into circulation.

An advanced Raman spectroscopy technique used to analyse chemical compositions beneath the surface of a sample without needing to physically cut or otherwise disturb it. In traditional Raman spectroscopy, the laser light and detector are aligned directly on the sample surface, which only provides surface-level information. SORS, however, works by offsetting the detector to capture Raman signals from deeper within the sample.

A sample banknote with no value that is legitimate and numbered, and marked by printing ink or perforation system with the word ‘specimen’. Specimens are exchanged among monetary authorities and in the past sent also to correspondent banks to share information on a new banknote or new series.

Produced by the mutual interference of a set of coherent wavefronts. Speckle patterns have been used in a variety of applications in microscopy, imaging, optical manipulation and document biometrics (or fingerprinting). They typically occur in diffuse reflections of monochromatic light such as laser light.

The study of the absorption and emission of light and other radiation by matter. Involves the splitting of light (or more precisely electromagnetic radiation) into its constituent wavelengths (a spectrum), which is done in much the same way as a prism splitting light into a rainbow of colours. More recently, the definition has been expanded to include the study of interactions between particles such as electrons, protons, and ions, as well as their interaction with other particles as a function of their collision energy.

A process employed in offset printing where colours are intentionally allowed to overlap on the transfer cylinder producing a gradated effect.

Spoofing involves faking one’s identity, and can be used for various attacks such as identity theft. Phishing is one such use of spoofing that attempts to steal somebody’s personal information or credentials by having them volunteer that information from a nefarious source that looks legitimate.

Any colour printed with its own ink, in contrast to process colour printing which uses four inks (cyan, magenta, yellow and black – or CMYK) to produce all other colours.

A cryptocurrency backed by a reserve asset. The backing aims to provide confidence so that stablecoins can be used for instant processing, offering security or privacy but without the volatility of cryptocurrencies such as bitcoin.

An impression, mark or relief formed on a paper substrate by means of pressure from a stamp.

The practice of representing information within another message or physical object so that its presence is not evident in human inspection. The advantage of steganography over cryptography alone is that the intended secret message does not attract attention to itself as an object of scrutiny

A type of hologram created from sequential images of a piece of movie footage. Each frame of the movie is converted into a vertical slit image and stacked against another slit image of the adjacent frame. The result is a hologram which, when the viewing angle changes from side to side, produces the same image motion as the movie footage, given that the frames are seen one after another.

The suspension of fibre and other materials in water used to manufacture paper.

One of the functions of money or more generally of any asset that can be saved and exchanged at a later time without loss of its purchasing power. See also Precautionary holding.

A simple paper device designed to hold a specific denomination and number of banknotes. Can also refer to a bundle of banknotes.

The process of stamping a coin blank with a design. The stamping speed is measured in the number of strikes per minute.

The standard language used to communicate with relational database management systems (ie. systems which store and provide access to data points that relate to one another). SQL statements are used to perform tasks such as updating and retrieving data.

The material or base – eg. paper or film – on which an image is printed or a feature applied.

A mobile or web application that can provide multiple services including payment and financial transaction processing, effectively becoming an all-encompassing self-contained commerce and communication online platform that embraces many aspects of personal and commercial life.

Individuals or organisations involved in moving products from manufacturer to consumer.

Security features that are applied to the surface of a banknote or secure document (eg. foil stripes, foil or optically variable ink patches, iridescent coatings) as opposed to features that are created through combinations of printing techniques or features integrated into the substrate, such as threads, fibres and watermarks.

The most ubiquitous and popular type of hologram, mainly exhibiting a characteristic rainbow-coloured pattern. The details of the hologram image are recorded as an interference pattern on the surface (rather than through the volume) of the material. The value of surface relief holograms is that they can be mass-produced mechanically by embossing or casting a relief pattern or image into an inexpensive thermoplastic film or viscous coating on a film or paper.

A protocol for arranging the bars and spaces of barcodes for the encoding of numbers, letters and binary numbers.

A type of circular particle accelerator. It works by accelerating charged particles (electrons) through sequences of magnets until they reach almost the speed of light. These fast-moving electrons produce very bright light, called synchrotron light.

The property of a banknote or secure document feature that can be felt, often made by means of intaglio printing.

Marks printed in intaglio, recognisable by feel and usually located close to the edge of a banknote.

Molecular or microscopic particle that can be organic or inorganic in composition and exhibit specific and unique physical, biological, chemical or spectroscopic properties. Added in very low concentration to substrates or ink as a covert authentication feature.

A device such as a seal or closure that demonstrates that a product or packaging has been (fraudulently) opened or otherwise accessed prior to its proper use.

A label or tag applied to an item that denotes that tax or excise duty has been paid on the item.

A technique often used on card printers, especially for printing photographs of faces. Consists of a dye carried on a ribbon which sublimes above a specific temperature (ie. changes from solid to gas without passing through a liquid phase). The dye then diffuses into the upper layers of the substrate after which it re-solidifies upon cooling.

A process which produces a printed image by selectively heating coated thermochromic paper. The coating turns black in the areas where the paper is heated, producing an image.

An ink that undergoes a reversible colour shift when heated and then cooled. The temperature change can be quite narrow so the viewer’s external body temperature, by applying, say, a thumb to the printed surface, is sufficient to trigger the transition.

A post-print technology for producing a tactile raised finish. Involves sprinkling powdered resin onto wet ink before heat-fusing it onto the substrate.

A method of coating a very thin film of material – between a few nanometers to about 100 micrometres’ thickness – onto a substrate surface, or onto a previously deposited coating to form layers.

The superposition of two or more lightwaves, causing their mutual amplification or reduction depending on how the phases of these waves are related to each other.

A representation of another object using a non-representative substitute. A sensitive data element, or valuable item, is represented with a non-sensitive equivalent, referred to as a token, with no extrinsic or exploitable meaning or value. The token acts as a reference (ie. identifier) that maps back to sensitive data through a tokenisation system. 

The transformation of the rights to an asset into digital form (token).

The amount by which a measurement or calculation might change and still be acceptable.

The process of identifying the origin of an item or where it has been.

The process of monitoring and recording the past and present whereabouts of an item, as it passes through different operators on its way to its destination.

The process of following an item through the supply chain so its whereabouts are known at all times.