The Bank of England has dismissed fears from security printing company De La Rue that criminals producing counterfeit banknotes using cheap inkjet printers are becoming a serious problem.
According to De La Rue, 'digifeiters' are able to print counterfeit banknotes on cheap, mass-produced inkjet printers that are good enough to fool people if passed over in venues with poor light, such as pubs and nightclubs.
De La Rue said the world's central banks are being forced to deal with an increasing number of such counterfeit notes.
A security document published by the company put some of the blame on printer manufacturers, saying they were ignoring a problem they could prevent with suitable software. It also criticised the banks for paying little heed to the problem.
But the many security agencies and banks contacted by vnunet.com, including the Bank of England and the National Criminal Intelligence Service - the organisation that collates all counterfeit notes found in circulation in the UK - dismissed the claims.
They argued there was no evidence to support the idea that digifeiting is a growing problem, and added that the UK uses sophisticated security measures to counteract forgeries.
"Counterfeit notes in the UK only account for around one per cent of the notes in circulation," said a Bank of England spokeswoman.
"It is our job to keep our eye on this matter and make notes as difficult to counterfeit as possible.
"We are satisfied that the security on UK notes is strong. For example, the new foil holograms on UK banknotes can't be printed.
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