1. The Authentication Times
The Authentication Times
Inaugural Issue October 2014 | Volume 8 | Issue 25
Evolution of
polymer
banknotes
- Pros and cons
www.aspaglobal.com
The official newsletter of Authentication Solution Providers’ Association (ASPA)
www.aspaglobal.com 1

2. The Authentication Times
Inaugural Issue News Bytes
Come and witness the launch of the next generation of printing
presses from the leading manufacturers and be among the first to
see them in action.
LABEL PRINTING HAS EVOLVED
Learn how cutting-edge technology, innovative new materials and
intelligent labels are revitalizing in-store sales; be the solution your
clients need. Secure new business, while reducing your operating
costs, increasing your profits and expanding your services.
Competition is fierce, tame it at the largest label and package
printing event in South Asia.
Register for FREE entry today at:
WWW.LABELEXPO-INDIA.COM
ALIVE with
TECHNOLOGY
2 www.aspaglobal.com

3. The Authentication Times
Inaugural Issue
Viewpoint
Dear Reader,
Welcome to the 25th edition of our newsletter
with a new name “The Authentication Times”
(formerly known as The Holography Times-THT).
Recently, HoMAI had completed its re-branding
and now will be known as Authentication Solution
Providers’ Association (ASPA).
With this it is becoming inevitable for us to
change the name of “The Holography Times” as
“The Authentication Times”. We will now focus
on providing information, industry trends and
news on authentication solutions from across the
globe.
In the last few months, one of the two biggest
economies of paper banknotes has shown their
interest in polymer banknotes. Our current
cover story is focus on “Evolution of polymer
banknotes: pros and cons”. Apart from this we
are starting a series of article on authentication
with name “All about authentication”. The first
article of this series will give you an overview of
authentication technologies. Apart from this the
issue also covers the industry updates including
news, counterfeit seizure report, event review,
appointments and global patents.
We are thankful to our readers for their support
in last 7 years and hope that they will like the
changes we are going for.
Do send us your feedback/critics at info@
aspaglobal.com.
With Best Regards,
C S Jeena
Editor
In this issue
4
7
12
News bytes
Evolution of
polymer
banknotes
-Pros and cons
Overview
Authentication
Technologies
Industry updates
Appointments 15
Event Review 16
Counterfeit Seizure Report 17
Global Patents 18
Upcoming events 19
Announcement on
change of name
We are pleased to
announce that The
Holography Times
changed its name to
The Authetication
Times from this issue
effective October
2014.
www.aspaglobal.com 3

4. The Authentication Times
Inaugural Issue
Leading News
New €10 banknote enters circulation
Portrait hologram
(Source: © European Central Bank)
Following the new €5 note,
which has been in circulation
since May 2013, the second new
denomination of the Europa
series €10 had entered into
circulation on 23 September
2014. Like the new €5, the
new €10 has several enhanced
security features that draw on
advances in banknote security
and technology.
The security features of the
Europa series are easy to check
1. Portrait watermark 2. Portrait Hologram 3. Emerald number 4. Raised Print 5. Security thread
using the “feel, look and tilt”
method and more counterfeit-proof.
A special coating on the 5
euro and 10 euro banknotes shall
make them more hardwearing.
The Europa series, the second
series of euro banknotes, is
named after a figure in Greek
mythology. The portrait of Europa
is featured in both the watermark
and the hologram stripe. This
innovation has been designed
by the Eurosystem to augment
the familiar architectural motifs
and broaden the symbolism of a
single Europe, creating an easily
identifiable feature for the entire
new series. Its hologram and
watermark include a portrait of
Europa. It also has an “emerald
number”. When tilted, the shiny
number displays an effect of the
light that moves up and down,
and also changes colour from
emerald green to deep blue.
Source: www.ecb.europa.eu
The new NIS 50 banknote—
the first in the new series of
banknotes (Series C of the New
Shekel)—bearing the likeness
of Shaul Tchernichovsky, enters
circulation on September 16,
2014. The new banknotes have
a standard of security, innovation
and accessibility that is among
the most advanced world, and
they incorporate a range of
leading edge anti-counterfeiting
security features, created
through various technologies.
In addition, the new banknotes
include special features to aid the
blind and vision impaired.
The visible security features
include, the transparent portrait,
perforated numerals, raised ink,
glittering stripe, golden book
and the security thread, in green,
interlaced into the banknote
surface and revealed through
three “windows” on the back of
the banknote. When tilting the
banknote the thread changes
color.
Source: www.boi.org.il
Bank of
Israel new 50
shekel bill
introduced
4 www.aspaglobal.com

5. The Authentication Times
Inaugural Issue
Product Launch
Datacolor unveil 45IR for security printing
Portable spectrophotometer tailored to meet the needs of central banks,
security ink producers, and banknote printers
Datacolor®, provider of color
management and color
communication technology
had announced the availability
of Datacolor 45IR, a portable
spectrophotometer uniquely
designed to meet the distinct
quality control and ink formulation
requirements of the security
printing industry. According to
officials, “Datacolor 45IR will
help prevent counterfeiting
of banknotes and confidential
government or company
documents, guaranteeing quality
control for all market players such
as central banks, banknote printers
and security ink producers”.
The only high-precision portable
instrument with a 3-in-1 solution,
Datacolor 45IR uses industry
standard 0/45 geometry for
colorimetric and near infrared
ranges as well as densitometric
functions to provide unparalleled
formulation, quality control, and
authentication. Datacolor 45IR’s
improved Inter Instrument
Agreement enables digital color
communication which increases
the speed, efficiency and
precision throughout the secure
printing process.
In addition the Datacolor
45IR features significant
enhancements to improve
performance, including an
intuitive interface and complete
on-board software for stand-alone
measurement with a high
resolution color screen, and a
lightweight ergonomic design to
improve the overall ease of use.
Responding to direct customer
feedback, Datacolor designed the
45IR so units can be serviced at
the customer site. Through this
improved technology, the 45IR
removes the need for sending
units back to the manufacturer,
therefore streamlining the color
approval process.
“Quality requirements in the
security ink market have risen
significantly,” said Walter Franz,
Global Business Development,
Datacolor. “With its state of the art
technology, Datacolor 45IR allows
the security ink supply chain to
fulfill these specific requirements
and to communicate color data
more efficiently.”
Source: www.datacolor.com/45ir
THE PREMIUM
RETRANSFER PRINTER Avansia is ideal for delivering:
Corporate ID cards
Secure access badges
Student cards
Payment cards
Loyalty cards / gift cards
National ID cards
Driver’s licenses
HOW DOES RETRANSFER
Evolis unveil latest retransfer printer
Evolis had introduced the
AVANSIA, a new printer
that utilizes retransfer printing
technology to deliver high quality,
high durability cards. With
retransfer printing, the card layout
is first printed on a transparent
film and then the print layer is
transferred to the card. This makes
it possible to cover the entire
surface of the card, eliminate white
edges and protect the print head
from damage.
AVANSIA’s 600-DPI print head
delivers quality images, as well
as sharp texts, microprints and
watermarks. The retransfer
technology supports and can
improve a variety of applications:
employee badges, secured access
cards, student IDs, payment
cards, official identification
cards, driver licenses, and more.
AVANSIA can issue more than 140
single-sided color cards per hour.
The printer supports the delivery
of cards in large runs, thanks
to its large-capacity feeder and
output hopper — 250 cards each
— as well as consumables from
the Evolis High Trust range that
are engineered for this type of
personalization
Retransfer technology makes
it possible to print on any card
profile — PVC, PET, polycarbonate,
ABA, etc. — even on cards with
an uneven surface. To support
specific requirements, AVANSIA
supports all types of encoding,
including magnetic stripe, contact
smart cards and contactless
smart cards. This printer offers
additional security via an RFID-based
electronic key, which can be
removed in order to prevent rogue
use of the printer. A mechanical
lock system is also available as an
option. The AVANSIA comes with
a three-year standard warranty,
coupled with the lifetime
warranty on the print head.
Source: www.evolis.com
www.aspaglobal.com 5
FLAWLESS Retransfer maximizes High are watermarks Over guarantee since Evolis provides MEDIA The Avansia print polycarbonate, card contactless The standard perfect MULTIPLE To meet be confi options: contactless gured combined.
TECHNOLOGY WORK?
The card is printed in two phases:
1 The card design is printed by dye
sublimation on a transparent fi lm.
2 The printed fi lm is then fused to the
card using a thermal bonding process
for fl awless results.
The built-in fl attener applies pressure
on the card, thus ensuring a perfectly
fl at surface.
Heat roller
Card
Print head
Clear fi lm
Color
ribbon
Flattener

6. The Authentication Times
Inaugural Issue
Projects Awarded
De La Rue wins
banknote printing contract
De La Rue has been named
as the preferred bidder for
the 10 year contract to print
plastic banknotes for the Bank
of England, which is due to
commence in April 2015.
De La Rue Chairman, Philip
Rogerson, said: “We are delighted
that De La Rue has been selected
as the preferred bidder for this
very prestigious and important
contract with the Bank of
England.” The company says it
will cooperate with the Bank
over the weeks ahead to ensure
that it conforms to all of its due
diligence checks, ahead of the
contract being awarded.
The BoE will require De La Rue
to print 12 billion banknotes.
Fig.: Concept design for new polymer £5 note
Plastic banknotes are set to come
into circulation in 2016 in the UK,
starting with the new £5 note
(featuring Sir Winston Churchill),
followed by the £10 (featuring
Barclays unveil
authentication technology
Barclays has revealed what
it says is the future of fraud
prevention in corporate banking
with the Barclays Biometric
Reader, a Hitachi-developed tool
that uses “vein authentication
technology” to ensure secure
customer authentication for
corporate transactions.
Revealed at an event at the bank’s
Canary Wharf headquarters, the
biometric reader was described
by Ashok Vaswani, CEO of
Barclays personal and corporate
banking, as a “very, very exciting
development” that will be
available to corporate clients
from 2015.
“It’s very, very simple, yet it’s
very, very secure,” Vaswani said
of the device, which is designed
to sit on a desk and connect to a
computer via USB. The biometric
reader authenticates transactions
by reading the blood inside
the user’s finger, something
Barclays and Hitachi say is almost
impossible to replicate, therefore
drastically reducing the potential
for fraud. Vein authentication
technology works by scanning
the finger with near-infrared
(NIR) light.
“We’re using very advanced
technology that doesn’t capture
a fingerprint, it actually captures
the photographic view of the
blood in the veins of your finger,”
said Vaswani, who argued the
Jane Austen) note in 2017.
Source: www.delarue.com
technique is far more secure
than fingerprint scanning.
“Fingerprinting isn’t as secure as
this. This has been demonstrated
to be the most distinguishable
feature for any person, so it
provides the highest level of
security.”
Source: http://www.computing.
co.uk/
6 www.aspaglobal.com

7. The Authentication Times
Inaugural Issue
Cover Story
Author is Secretary of
Authentication Solution
Providers’ Association (ASPA)
since 2006 and also serves as
Editor of The Authentication
Times.
Evolution of
polymer
banknotes
Pros and cons
by C S Jeena
Introduction:
For hundreds of years, banknotes have been
made from rag-based paper (Tang Dynasty
A.D. 618-907)1. The introduction of advanced
technology based systems in the banking
services world over resulted in great changes
in terms of how financial institutions offer
services to customers. Today, banknote issuers
are faced with the challenge of increasingly
sophisticated counterfeiting techniques and
there are serious doubts that paper remains
a viable material for secure banknotes. It’s
seems that paper currency is going the way of
other objects/things (Tape-recorder, VCR’s)
that have become obsolete.
Recently, one of the world two biggest users
of paper banknotes India and England had
announced their plans to introduce polymer
currency. The Bank of England’s (BoE)
inaugural polymer bill, a 5 pound note, will
debut in 2016 featuring former Prime Minister
Winston Churchill. On the other hand, The
Reserve Bank of India (RBI) is planning to
introduce plastic currency next year on a pilot
basis. According to officials of BoE there were
around 3 billion pieces2 in circulation, while
the officials of RBI estimated approximately
76.47 billion pieces3 in circulation. So far, Great
Globally, many countries
are shifting or opted
polymer banknotes in place
of paper bank notes for
their increase shelf life,
cost of production and
improve security features.
Recently, one of the world
two biggest users of paper
banknotes India and
England had announced
their plans to introduce
polymer currency. The
Bank of England (BoE) had
announced plans to start
printing money on polymer
by next year, it has been
issuing for more than
300 years. On the other
hand, The Reserve Bank of
India (RBI) is planning to
introduce plastic currency
next year on a pilot basis.
The article analyses the
brief history, pros and cons
of polymer banknotes.
1. Paper history, journal of the International Association of Paper Historians, Volume 14, Year 2010, Issue 2
2. Counterfeit Bank of England Banknotes, http://www.bankofengland.co.uk/banknotes/pages/about/counterfeits.aspx
3. Currency Management in India: Issues and Challenges, (Keynote address by Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India at
the Banknote Conference 2014, Washington on April 8, 2014), http://www.rbi.org.in/scripts/BS_SpeechesView.aspx?id=889
www.aspaglobal.com 7

8. The Authentication Times
Inaugural Issue
Britain is the world’s biggest
economy to announce a switch to
polymer notes4.
What are Polymer
Banknotes & how it
started?
Polymer banknotes are
banknotes made from a polymer
such as bi-axially oriented
polypropylene (BOPP). The first
polymer bank note was issued
in 1974 in Haiti and printed
on Tyvek®, a synthetic fibre
material, jointly pioneered by
American Banknote Co. (ABNC)
and Du Pont. Only Costa Rica and
Haiti issued Tyvek® banknotes;
test notes were produced for
Ecuador, El Salvador, Honduras
and Venezuela but never placed
in circulation. Ten Years later in
1984, English printers Bradbury
Wilkinson produced a version on
Tyvek but marketed as Bradvek
for the Island of Man with Tyvek®
1 GBP notes. These first plastic
notes were printed on generic,
white coloured substrate without
windows or any other security
feature. These first issues were
Cover Story
Fig. 1: The first polymer bank note.
Special Bicentennial issue. Courtesy
Reserve Bank of Australia
not successful, mainly because
ink failed to adhere during
circulation5.
How are polymer notes
made?
A clear laminated polymer
film (BOPP consisting of two
laminated layers of 37.5 μm each)
is the basis of the note. The film is
made opaque (opacified) by the
application of special inks, except
for certain areas that result in
clear windows or other features.
Further, printing plates, polymer
substrate, special inks and high
technology printing machinery
are brought together to produce
the currency notes. Colourful
background designs are printed
simultaneously with both sides of
the opacified polymer substrate
using an offset printing process
which results in a flat print.6
The first commercial
success (See fig. 1)
The first successfully introduced a
modern polymer banknotes note
was issued in 1988 by the Central
Reserve Bank of Australia (1988,
4. Bank of England signs up supplier for plastic bank notes
http://uk.reuters.com/article/2014/03/12/uk-britain-boe-banknotes-idUKBREA2B0KT20140312
5. Durable banknotes: an overview, Hans de Heij, De Nederlandsche Bank N.V.
6. http://www.rba.gov.au/Museum/Displays/1988_onwards_polymer_currency_notes/how_are_notes_made.html
8 www.aspaglobal.com

9. The Authentication Times
Inaugural Issue
Table: List of countries currently issuing Guardian, the denomination they issue, and the year they first used.
Country First Unit of Currency Denominations
Australia 1988 Australian dollar $5, $10, $20, $50, $100
Papua New Guinea 1991 Papua New Guinean kina K2, K5, K10, K20, K50, K100
Singapore 1991 Singapore dollar S$2, S$5, S$10, Commemorative S$50 (1990),
S$20 (2007)
Brunei 1996 Brunei dollar B$1, B$5, B$10, B$50, B$100, B$500, B$1000,
B$10000, Commemorative B$20 (2007)
Malaysia 1998 Malaysian ringgit RM1, RM5, Commemorative RM50
New Zealand 1999 New Zealand dollar NZ$5, NZ$10, NZ$20, NZ$50, NZ$100
Commemorative $10 (2000)
Romania 1999 Romanian leu 1L, 5L, 10L, 50L, 100L, 200L, 500L, 10,000L,
50,000L, 100,000L, 500,000L, 1,000,000L
Commemorative 2000L (1999)
Vietnam 2001 Vietnamese dong 10,000 , 20,000 , 50,000 , 100,000 ,
200,000 , 500,000, Commemorative 50 (2001)
Mexico 2002 Mexican peso $20, $50, Commemorative $100 (2009)
Chile 2004 Chilean peso $1000, $2000, $5000
Guatemala 2007 Guatemalan quetzal Q1, Q5
Hong Kong 2007 Hong Kong dollar HK$10
Nigeria 2007 Nigerian naira N5, N10, N20, N50, Commemorative N50 (2010)
Israel 2008 Israeli new shekel NIS20
Nicaragua 2009 Nicaraguan cordoba C$10, C$20, C$200, Commemorative C$50
(2010)
Paraguay 2009 Paraguayan guarani G2000 G5000
Dominican Republic 2010 Dominican peso oro RD$20
Honduras 2010 Honduran lempira L20
Vanuatu 2010 Vanuatu vatu VT200, VT1,000, VT2,000, VT10,000
Canada 2011 Canadian dollar $5, $10, $20, $50, $100
Costa Rica 2011 Costa Rica colones ₡1000
Mozambique 2011 Mozambique metical 20MT, 50MT, 100MT
Mauritius 2013 Mauritian rupee Rs25, Rs50
Source: www.innoviaseurity.com as updated on March 2014
ASD 10), printed on Guardian®,
made by Securency. It was
printed on ‘Guardian®’, made by
Securency. Subsequently, in 1996
Australia switched completely to
polymer banknotes7.
After Australia many other
countries have introduced
polymer banknotes, of which
several have completely switched
from paper to polymer. In 2011,
Commonwealth Scientific and
Industrial Research Organisation
(CSIRO) estimated that there
are over thirty different
denominations totalling some 3
billion polymer notes in service
in 22 countries worldwide.
According to Reserve Bank of
Australia, “As of 2013 twenty
nine (29) countries have
issued polymer notes printed
on Australian-made polymer
substrates”8.
Cover Story
7. The world’s first polymer banknote, http://www.csiro.au/Organisation-Structure/Flagships/Future-Manufacturing-Flagship/Flexible-
Electronics/World-first-polymer-banknote.aspx
8. Exports of Polymer Notes, Reserve Bank of Australia,
http://www.rba.gov.au/Museum/Displays/1988_onwards_polymer_currency_notes/export_of_notes.html
www.aspaglobal.com 9

10. The Authentication Times
Inaugural Issue
Why countries have
opted polymer
banknotes?
The main reasons countries have
opted for polymer currencies are
security and durability.
i) Security: These banknotes
are tougher and more
expensive to counterfeit than
money printed on traditional
cotton-based paper, and
include new security features
such as a transparent window,
optical variable devices,
shadow images etc. etc. A
key feature is a clear window,
which normally contains an
‘optical variable device’ that
splits light into its component
colours and is extremely hard
to counterfeit. Plastic notes
can also contain holograms.
ii) Longer life and durability:
Plastic notes last much longer
than cotton fibre-based
paper ones. For instance, an
Australian $5 bill lasts about
40 months, against six months
for a £5 note. According to
Gerry Wilson of Australia-based
Commonwealth
Scientific and Industrial
Research Organisation
(CSIRO), the polymer notes
have longer lifetime and
can be produced at a faster
rate than paper currency.
They also stay spiffier longer
because they’re more dirt-and
moisture resistant and are at
least 2.5 times more durable
than paper currency. This life
increase is not caused by the
polymer substrate, but also by
the post printed varnish used
on these notes – two different
types to create a better grip
for e.g. the use in ATMs.
Countries like India can be
benefited as, according to RBI
on an average, 1 out of 5 paper
note in circulation (over 20
per cent) gets disposed of
Cover Story
every year after getting soiled
and the number of such soiled
currency bills stood at over
13 billion units during the
financial year 2011-129.
iii) Economical in the long
run: Although polymer
banknote cost more they can
be economical in the long
run. The BoE estimates that
printing the £5 and £10 notes
on plastic, rather than paper,
will cut production costs by
a quarter, or £100m, over the
next ten years10.
iv) Hygiene: Polymer notes are
more hygienic as they absorb
fewer bacteria, harder to
tear or crease – making them
easier for vending machines
– and waterproof, even able
to survive being put in the
washing machine.
v) Environment friendly: Most
of the paper based banknotes
are 75% cotton – which takes
large amounts of pesticides
and water to produce. On the
other hand, the base material
of polymer is a non-renewable
resource, but due to its
recyclability, it has more than
one life. For example, The
Reserve Bank engaged the
services of The Energy and
Resources Institute (TERI) to
conduct a study on the carbon
footprint of cotton-based
banknote paper substrate vis-à-
vis plastic-based substrate
and to estimate their overall
environmental impact, taking
into account their complete
lifecycles. The Life Cycle
Impact Assessment results
for the two types of notes
indicate that replacing cotton-based
notes with plastic-based
notes would have
significant environmental
benefits. Polymer/plastic
banknotes (and the waste
On an average,
1 out of 5
paper note in
circulation
(over 20 per cent)
gets disposed of
every year
9. RBI gears up for plastic notes as 20% paper bills get soiled, The Economics Times, May 12, 2013.
10. Bank of England signs up supplier for plastic bank notes, Reuters, Mar 12, 2014.
10 www.aspaglobal.com

11. The Authentication Times
Inaugural Issue
Cover Story
from production) can be
granulated and recycled into
useful plastic products such
as compost bins, plumbing
fittings and other household
and industrial products11.
Some apprehensions?
Polymer banknotes have some
disadvantages also, such as;
i) Environmental conditions:
The official said that the
biggest concern over plastic
currency was that it was never
tried out in such extreme
weather conditions like India.
The extreme weather means
that the notes have to survive
temperatures over 40 degrees
in some states and sub-zero
temperatures in parts of the
Himalayas and high level
of humidity in parts of the
country. In 1982 and 1983,
the American Bank Note
Company printed banknotes
for Costa Rica and Haiti on
DuPont’s Tyvek® polymers.
These had fairly limited
release, but did circulate in
each country. Additional trial
and specimen banknotes were
developed for Honduras and
El Salvador. Unfortunately, in
tropical climates, ink did not
bind well to the polymer and
the notes began smearing
quite badly.
ii) They are harder to fold and
more slippery, which makes
them harder to count by hand.
iii) Issue of recycling: Some less
developed countries may not
have the facilities to recycle
them - and when they burn
they pollute the air.
iv) High cost: In addition,
polymer notes cost more to
produce in the short-term,
which could be a drawback
for developing countries.
The payback from their extra
durability only comes over
time.
v) Cotton banknotes stride
forward: According to
polymer researcher Stane
Straus, the security gap
between paper and plastic
notes is closing. It is now
possible to make “hybrid
notes” - paper notes with a
transparent polymer window.
vi) Monopolistic situation:
The supply of, and the
technology for producing,
plastic currency are a big
business for the Reserve Bank
of Australia. Plastic currency
is now used by 22 countries
(approximately) around the
world. But it is also apparent
that Australian parties have
been involved in bribing high
officials in Malaysia, Indonesia
and Vietnam (at least) in
securing contracts for plastic
currency. The Australian
courts are apparently
cooperating in some form of
cover-up. That has become
apparent from the Wikileaks
release of a gagging order by
the Supreme Court of Victoria
at Melbourne where the court
forbids12.
Another factor could the
conservatism of central
bankers. “Central banks are very
conservative institutions,” Stane
Straus says. “People making the
decision to convert to polymer
- partially or fully - are taking
a personal risk.”Many central
banks are simply waiting until
others convert and then they will
follow.”
Further, not all central banks
are convinced of the use of
Polymer notes. The Central Bank
of Bangladesh also decided to
return to cotton paper after
their experiences with a 10Taka
polymer note. In June 2001,
the Solomon Islands issued $2
polymer banknotes, However
they reverted to paper notes
in 2006. Last year, The Central
Bank of Nigeria (CBN) returned
to paper currency from plastic
which were introduced in 2009.
Today, approxmately 22 countries
use polymer banknotes, but
only few have converted all
denominations into plastic. One
country that doesn’t look like
it’ll be abandoning paper for
plastic anytime soon is America.
Last year, the Federal Reserve
launched a new $100 bill, the
second most common bill in
circulation after the $bill with
security features including 3-D
security ribbon and color-shifting
ink.
Conclusion:
It’s almost 20 years since first
polymer bank notes were
introduced by Australia. In the
future bank notes will be much
used by automats like ATMs and
banknote acceptors. From this
prospective, polymer bank notes
seems to behave better than
cotton based banknotes. Feeding
polymer notes into an automat
is easier because such notes are
less affected by tears, missing
parts and clipped corners. Also
from ‘green’ perspective polymer
banknotes seems to have better
performance when it comes to
environmental and sustainability
aspects.
11. RBI Annual Report 2013-14, Chapter VIII Currency Management, Plastic Banknotes carbon footprint.
12. http://wikileaks.org/aus-suppression-order1press.html.
13. Durable banknotes - De Nederlandsche Bank
14. Central Bank of Nigeria, www.canbank.org
www.aspaglobal.com 11

12. The Authentication Times
Inaugural Issue
All about Authentication
Overview Authentication
Technologies
With the availability of various authentication solutions, companies and Government authorities are facing
problem in selection of a specific authentication solution as the adoption of any given solution is a complex
question involving issues, amongst others, of cost, compatibility, feasibility and reliability, and there are
divergent views on which technologies should be adopted and the timing for their adoption. While these
solutions can sometimes add to the problem, the right selection, usage & implementation of authentication
solutions helps companies and authorities to keep them one step ahead of counterfeiting. For the reason
The Authentication Times team decided to start a series of article on Authentication Technoligies. This is
the first article of this series giving an overview of authentication technologies to the reader, and this will
be followed by detailed articles on anti-counterfeiting, anti-tampering and tracking and tracing.
Authentication:
With the increase in
counterfeiting, Authentication
technologies play an important
role in supporting brand
strategies, helping to reduce
the risk of fraud by deterring
criminals and enabling
stakeholders to identify and track
genuine product with fake one.
Today, there are various number
of authentication technologies
available in the market, although
all these technologies are applied
in the three main areas of
i) Anti-Counterfeiting
ii) Anti-Tampering, and
iii) Track and Trace
Anti-Counterfeiting:
The common feature of anti-counterfeiting
technologies is
that they are edrtremely difficult
to be counterfeited. Consequently,
they help in identifying a
genuine product. Based on the
authentication requirements,
such technologies may consist
of overt, covert and forensic
features, or a mix thereof.
Anti-Tampering:
Such solutions are found more
in the food and pharmaceutical
industry where there is a need
to protect a product from
adulteration or replacement. An
intact anti-tampering feature is
the consumers’ assurance that
the contents are genuine and not
tampered or adulterated.
Track and Trace:
Track and trace technologies use
mass serialization to provide a
unique identity to each SKU. The
IT technology then allows to keep
a watch on each SKU through
customised software that allow
an authorised user to track the
movement of this SKU across the
entire supply chain. Depending
upon the authorization level,
each user may also be able to
access additional information
pertaining to the product such as
manufacturing date and factory,
expiry date, the market such SKU
is meant for etc.
All these technologies can be
categorised as either overt,
covert, forensic or digital.
Overt, Covert, Forensic or
Digital
Overt: Overt technologies are
authentication devices built into
labels, documents and packaging
which are visible to the user and
show dynamic visual effects.
Their main advantage is the
fast and easy, on the spot,
visual authentication where no
12 www.aspaglobal.com

13. The Authentication Times
Inaugural Issue
All about Authentication
Authentication Technologies
Anti-counterfeiting Anti-tamper
Tracking
EAS Tag &
Systems
Tamper Evident
Labels
Tear Tapes/
Delaminating
Films/Patterned
Destruct Films /
Labels
Optical Security
Technologies
Holograms /
Zero diffraction
Devices/Floating/
Sinking image
films/color
shifting films/
retroreflective
Evident Closures
Shrink Sleeves or
Films/ Induction
Security
Printing
Tamper
Seals
Security inks and
coatings
Substrates-
Security Papers
Fig: Diagram showing the primarily used authentication technologies
additional devices are needed.
Overt features are expected to
fulfil three main criteria;
- Communicate with the
verifier
- Be easy to identify
- Be hard to copy and imitate
Physical secure solutions offering
overt features include fine-line
design, security guilloches,
holograms, optically variable
devices (OVDs), watermarks,
films
Track & Trace
Systems
Chemical and
molecular
taggants and
nanotechnologies
colour-shift and thermochromic
inks, threads, foils and laminates,
embossable and laser markable
films and security papers.
Overt features can be made
more secure by combining them
with covert, forensic and digital
features. As Overt can be used for
identification and verification by
consumer, Covert (Verification by
a predetermined device or a tool)
can be used by manufacturer
Microtext/
Nanotext/
Guilloche
Intaglio ink/
Fluorescent ink/
infrared ink/
thermochromic /
optically variable
ink /pearlescent
varnishes/tagged
inks
www.aspaglobal.com 13

14. The Authentication Times
Inaugural Issue
All about Authentication
Diagram: Overt feature (security hologram strip) applied on pharmaceutical
product label
or their channel partner for an
advanced level of authentication
and verification. The third level is
highly sophisticated and can be
used by forensic experts and can
be useful to law enforcement and
for evidence in case of litigation.
Mainly classified as overt
technologies holograms
produced in high security
environment provide covert as
well as forensic features.
Covert: Covert technologies
are not instantly recognisable.
They require a special reader
or detector to be able to verify
their presence and validity, and
people using covert technologies
will normally require some kind
of training. Covert technologies
include ultraviolet and infrared
inks, micro text, unique synthetic
tagging etc.
Forensic: Forensic technologies,
being covert, are not readily
recognisable and require special
tools for detection and validation.
Whereas covert technologies can
be detected and validated in the
field, forensic technologies must
often be taken to a laboratory
with specialised equipment.
Digital: Digital technologies may
be either overt or covert, but all
require an electronic means for
detection and validation. Digital
technologies are most associated
with RFID tags or with serialised
numbers that can be compared
to a remote database.
Conclusion
In today’s world when brand
are under attack in forms of
counterfeiting, tampering,
pilfering, Authentication
technologies play an important
role in protecting brand
reputation, value, market share
and above all trust of customers.
Counterfeiters target well known
brands for illegal profit, which is
further used to finance terrorist
organization. Therefore, a
product without authentication
technologies represents a
significant potential risk to
society at large. There is no
single solution to every problem,
hence, a proper brand protection
strategy involve combination
of technologies with proper
enforcement. It is pertinent
to mention here ISO:12931
titled “Performance criteria for
authentication solutions used to
combat counterfeiting of material
goods”. This standard lays down
some of the best practices to help
brand owners to strategise and
fight counterfeiting effectively.
We believe that this tool should
be adopted by all brand owners
to eliminate counterfeit.
The next article will focus on
anti-counterfeiting technologies
in more details.
14 www.aspaglobal.com

15. Inaugural Issue Industry Update
The Authentication Times
Appointments
Bobst Promotes
Brian Kentopp to
Vice President,
Business Unit
Sheet Fed
Bobst North America
announced that
Brian Kentopp has
been promoted
to vice president,
business unit sheet
fed for North America
effective June 9. Brian
will be responsible
for all corrugated
board and folding
carton business in
the U.S. and Canada.
Previously, Brian
had been director of
sales for corrugated
board, served as
product manager for
corrugated board,
and began his career
at Bobst in 2002 as
regional sales manager
for corrugated board
in the Midwest.
Nanotech
appoints Troy
Bullock as cfo
Nanotech Security
Corp. appointed Mr.
Troy Bullock, CPA,
CA, as its new Chief
Financial Officer
replacing Mr. Brian
Causey, CPA, CA, who
has served in this role
over the last four years
and who will remain
a valued director of
the Company. Mr.
Bullock is a senior
finance professional
with more than 20
years of international
experience who has
a strong track record
in both public and
private companies
with public accounting,
restructuring and
corporate finance
duties at KPMG and
Deloitte.
OpSec Security
Group plc
appoints Richard
S. Cremona as
CEO
OpSec Security Group
plc, a leading supplier
of anti-counterfeiting
technologies and
services announced
that Richard S.
Cremona has been
appointed as Chief
Executive Officer of
the Company. Subject
to the satisfactory
completion of the
necessary regulatory
requirements, the
Company intends
to appoint Mr.
Cremona to the
Board of Directors
in due course. Mr.
Cremona has held
a wide variety of
executive management
positions with AT&T,
Lucent Technologies,
Sprint and Openwave
Systems. From 2008
to 2013, he was Chief
Executive Officer
of Kentrox Inc. In
2013, Kentrox was
acquired by Westell
Technologies (WSTL),
at which time he joined
Westell Technologies
as its Chief Operating
Officer. For more
information visit www.
opsecsecurity.
Nigerian Security
Printing and
Minting appoint
Joseph Ugbo as
New MD
Mr Joseph Ugbo has
been appointed as new
managing director of
NSPMP.
Mr Ugbo is a seasoned
Chemical Engineer
with over 29 years
of engineering and
managerial experience
with international
reputed manufacturing
companies. Prior to
this appointment,
Ugbo had worked in
various levels and
countries of Unilever
Plc and rose to the
position of Head of
manufacturing where
he coordinated all
General Managers in
manufacturing in the
entire company.
www.aspaglobal.com 15

16. The Authentication Times
Inaugural Issue
Industry Update
Event Review
Tax Stamp Forum, Dubai, United Arab Emirates, 15-17 September, 2014
www.taxstampforum.com
Organised by Reconnaissance
International, the 5th TAX STAMP
FORUM was held on 15-17
September 2014 at Dubai, United
Arab Emirates.
Over 230 delegates from 120
companies / organisation’s
participated at this event.
The conference opened with
workshop on The Anatomy
of a Tax Stamp followed by a
discussion on feasibility of a Tax
Stamp Association.
At the event, The International
Banknote Designers Association
presented a series of papers
focusing on security, functionality
and durability of the banknotes
and the various needs,
expectations and limitations each
of the stakeholders of the cash
cycle is faced with.
In total, 27 papers were presented
by various speakers including
Authentication Solutions
Providers Association - ASPA
(formerly HoMAI - Hologram
Manufacturers Association of
India), Ghana Revenue Authority,
SICPA, Securikett, Tullis Russell,
Shantalla, World Customs
Organisations, Hueck Folien , UN
Interregional Crime and Justice
Research Institute (UNICRI) ,
Xerox , PURA and more.
ASPA President, Manoj Kochar
presented paper on increasing
revenues and curbing illegal
Liquor in India. He presented an
overview of Indian Tax Stamp
market and the role of ASPA in
curbing illicit liquor.
Tax Stamp Award
The event also comprised the
Tax Stamp Awards recognising
excellence in the design,
innovation and implementation
of tax stamp programmes.
1. The Best Design Award
for implementation of tax
stamps on alcohol products
was awarded to Mauritius
Revenue Authority.
2. The Best New Innovation
Award was jointly awarded
to AM-PG for VeroCode and
Armenia’s Tax Stamps and
OpSec Security and Xerox for
Digital Cigarette Stamps for
the State of Michigan
Picture: Armenia Tax Stamp
The Tax Service of the Republic
of Armenia has introduced tax
stamps for over 20 types of
consumer products. The system
uses AM-PG’s Vero 2D Code
Track & Trace system along with
the company’s secure bimetal
holographic labels. This utilises
proprietary custom-created
closed algorithms to generate
unique codes for each client that
are applied onto tax stamps and
cannot be re-engineered, cloned
or mass copied. On the other
hand solution fully integrates
a highly sophisticated, nano-structured,
encrypted digital
tax stamp known as SecureITT
(manufactured by OpSec) with
Xerox’s eTRACS system.
Picture: digital tax stamp
The award for best tax stamp
programme was awarded to
Kenya Revenue Authority for
Excisable Goods Management
System to Eliminate Illicit Trade
and Enhance Tax Collection.
This system for the protection
of excise tax revenue comprises
an enhanced excise stamp
with multiple security layers
for various stakeholders along
the supply chain; production
accounting; and track and trace
modules. It also provides for
online forecasting, application
and processing of stamps,
accounts management, stock
control module, tax forecasting
and business intelligence
modules. This has led to reduced
costs tax compliance, faster
access to stamps and enhanced
service delivery. As a result,
Kenya Revenue Authority has
seized over 300,000 illegitimate
products from about 900
outlets, prosecuted more than
150 offenders and increased
excise revenue on spirits by 53%
between February and June 2014.
Source: Reconnaissance International
16 www.aspaglobal.com

17. The Authentication Times
Inaugural Issue
Industry Updates
Counterfeit seizure report
Food & Beverage
Fake foods rife in South Africa
http://www.health24.com/Lifestyle/
Healthy-you/Fake-foods-flood-South-
Africa-20140909
Crackdown on illicit liquor
sale, 2,880 bottles seized, New
Delhi
http://www.asianage.com/delhi/
crackdown-illicit-liquor-sale-2880-
bottles-seized-590
One arrested with 290 boxes
of illicit liquor, Punjab
http://www.hindustantimes.com/
punjab/ludhiana/one-arrested-with-
290-boxes-of-illicit-liquor/
article1-1269161.aspx?hts0021
10 cartons of illicit liquor
seized, two held, Punjab
http://www.hindustantimes.com/
punjab/ludhiana/10-cartons-of-illicit-
liquor-seized-two-held/
article1-1266508.aspx
Four arrested with illicit
liquor worth Rs 87,000,
Madhya Pradesh
http://freepressjournal.in/four-arrested-with-
illicit-liquor-worth-rs-87000/
Liquor, chemicals worth 6L
confiscated, Maharashtra
http://timesofindia.indiatimes.com/
city/nashik/Liquor-chemicals-worth-6L-confiscated/
articleshow/43690703.cms
Crackdown on illicit liquor
sale, Hyderabad
http://www.deccanchronicle.
com/140917/nation-current-affairs/
article/crackdown-illicit-liquor-sale
Cosmetics and
Personal Care
SFDA cracks down on fake
cosmetics
https://en-maktoob.news.yahoo.
com/sfda-cracks-down-fake-cosmetics-
050115683.html
£10 million worth of fake
cosmetics seized at Channel
Tunnel
http://www.cosmopolitan.co.uk/beauty-hair/
makeup/news/a29398/10-mill-fake-
cosmetics-seize/
Two fake cosmetic factories
fined in Rajshahi, Dhaka
http://www.dhakatribune.com/
crime/2014/sep/16/two-fake-cosmetic-factories-
fined-rajshahi
Fake drugs and cosmetics
worth Dh17m seized
http://gulfnews.com/news/gulf/uae/
general/fake-drugs-and-cosmetics-worth-
dh17m-seized-1.1381894
Handbags, Legos among more
than $500K in fake goods
seized at Houston-Galveston
seaport
http://www.click2houston.
com/news/500k-in-fake-goods-including-
handbags-legos-seized-at-seaport/
28391526
Pharmaceuticals
Los Angeles cracking down on
sale of illegal pharmaceuticals
http://abc7.com/news/la-cracking-down-
on-illegal-pharmaceutical-sales/
335517/
CEO of Vietnam drug firm held
for alleged smuggling
http://tuoitrenews.vn/society/22599/
ceo-of-drug-firm-vn-pharma-held-for-alleged-
smuggling
Clothing and
Accessories
Cyber cell raids counterfeit
goods godown in Chandigarh
http://timesofindia.indiatimes.com/city/
chandigarh/Cyber-cell-raids-counterfeit-goods-
godown-in-Chandigarh/
articleshow/43474325.cms
Interpol op nets RM162
million fake goods across Asia
http://www.themalaysianinsider.com/
world/article/interpol-op-nets-rm162-
million-fake-goods-across-asia#sthash.
YPsLExU1.dpuf
Counterfeit Louis Vuitton
Goods Worth One Billion Yuan
Are Seized in Southern China
http://www.theepochtimes.com/
n3/966058-counterfeit-louis-vuitton-goods-
worth-one-billion-yuan-are-seized-
in-southern-china/
P500M fake goods seized from
Manila warehouses
http://www.philstar.com/
nation/2014/10/03/1376069/p500m-fake-
goods-seized-manila-warehouses
Gucci, Tiffany dealt blow in
fake goods case against China
banks
http://www.firstpost.com/fwire/gucci-tiffany-
dealt-blow-in-fake-goods-case-against-
china-banks-1717605.html
Security and
Fiduciary Documents
Police crack counterfeiting
ring in Regina,
http://globalnews.ca/news/1581337/
police-crack-counterfeiting-ring-in-regina/
Counterfeiting on the rise,
warns Reserve Bank, Australia
http://www.smh.com.au/business/
banking-and-finance/counterfeiting-on-the-
rise-warns-reserve-bank-20140909-
10ee7b.html
Two charged with
counterfeiting bills
http://www.thedailystar.com/news/
local_news/article_6a5710da-b639-58ce-a65d-
5358707cb954.html
Italy makes massive seizure of
counterfeit euro banknotes
http://www.reuters.com/
article/2014/09/24/us-italy-counterfeit-euro-
idUSKCN0HJ16Q20140924
www.aspaglobal.com 17

18. Inaugural Issue Industry Updates
The Authentication Times
Global patents
Publication Title Int. Application Applicant / Inventor
DD.MM.YYYY Class Number
25.09.2014 WO/2014/152775 - C12Q 1/68 PCT/US2014/027718 Certirx
Nucleic acid-based Corporation/
authentication and Mercolino,
identification codes Thomas, J.
Brief Abstract: The present disclosure relates to nucleic-acid based product authentication and identification by
determining authentication codes comprising target nucleic acids using oligonucleotide probes associated with
samples. The presence of the authentication code is determined using detection methods, such as flow cytometric
methods, capable of particle discrimination based on the light scattering or fluorescence properties of the particle.
Target-correlated fluorescence signal, originating from a target nucleic acid hybridized to labeled complementary
oligonucleotides is determined as an indicator of the presence of the authentication code. In some embodiments,
an intercalating dye is used to determine the presence of target nucleotide/oligonucleotide heterodimers and
identify an authentication code.
18.09.2014 20140267754 - Method for B42D 15/00 13833630 LUXTREME LIMITED/
applying a security marking to Rantala Juha
an object and a hyper-spectral
imaging reader
Brief Abstract: : Provided is a method for applying a security marking to an object and a hyper-spectral imaging
device to readout the embedded information in the security marking to verify the object’s authenticity. The present
invention relates generally to the field of security markings and anti-counterfeiting technologies. More particularly
to optical product authentication methods, which are based on photoactive nanoparticles emitting in visible and
near-infrared wavelengths when excited with ultra violet or near infrared light.
11.09.2014 20140252081 - Method and G06Q 30/06 14197561 Gutierrez Robert
apparatus for authenticating,
tracking, and marketing
products
Brief Abstract: A method and system for marketing products with digital codes that may be scanned by a cell
phone to establish communications with a website including information about the product. The digital codes
identify the unique product as well as the general class of similar products and this allows the website to establish
and record information that tracks the movement of the product over time for product authentication, mobile
marketing, and the like, for use by authorized personnel.
04.09.2014 WO/2014/133384 - Process of D06P 1/00 PCT/NL2014/050113 Feyecon development
marking a textile substrate & implementation
B.V./ Van Der Kraan,
Martijn
Brief Abstract: The invention relates to the marking of textile products that have been dyed using a supercritical
dyeing process. More particularly, the invention provides a process of marking a textile substrate with a tracer,
said process comprising contacting the textile substrate with a supercritical or near-critical dyeing medium
containing a dye and a tracer, said tracer being selected from a metal chelate and a chemiluminescent agent. The
process of the present invention uses the supercritical or near-critical dyeing medium as a vehicle for depositing
a tracer onto the textile substrate that is also dyed using this medium. The presence of the deposited tracer on
the dyed textile can be detected using a simple and reliable authentication method. The invention also concerns
a marked textile productobtained by the aforementioned process. Also provided are a dyeing composition that
can be used in the aforementioned process as well as methods for authenticating textile products that have been
marked using his process.
18 www.aspaglobal.com

19. The Authentication Times
Inaugural Issue
Industry Updates
Upcoming events
Date Event Name / Place / Website
29 Oct-1Nov, 2014 Label Expo India*
Pragati Maidan, New Delhi, www.labelexpo-india.com
16-19Nov, 2014 African Banknote Conference
Cape Town, South Africa, www.africanbanknote.com
19-20 Nov, 2014 9th Annual Brand Protection and Anti-Counterfeiting Summit
Munich, Germany, www.brandprotectionevent.com
3-5 Dec, 2014 The Holography Conference*
Istanbul, Turkey, www.theholographyconference.com
19-21 Jan, 2015 High Security Printing 2015, Asia, Middle East & Africa
Manila, The Philippines, www.hsp-asia.com
3-5 Mar, 2015 IP Protect Expo 2015
London, UK, www.ip-protectexpo.com
23-25 Mar, 2015 High Security Printing 2015, Europe
Budapest, Hungary, www.hsp-europe.com
22-24 Apr , 2015 Security Printers 2015
Copenhagen, Denmark, www.securityprinters.org
10-13 May, 2015 The currency conference
Vancouver, Canada, www.currencyconference.com
13-15 May, 2015 Pharma Pro Pack Expo*
Mumbai, India, www.pharmapropack.com
9-11 Jun, 2015 Security Document World
London, UK, www.sdw2014.com
Published by
Authentication Solution Providers’ Assciation
(ASPA)
Editorial Team
Issue Editor : C S Jeena
Advisor : Mr. Pradip H Shroff
Mr. Manoj Kochar
Designed & : EYEDEA Advertising
Printed by 1250/13, Govindpuri,
Kalkaji, New Delhi-19
(India)
eyedeaadvertising@gmail.com
www.artworxindia.in
The Authentication Times is a quarterly
newsletter published by ASPA with an aim
to provide latest developments, research,
articles, patents and industry news to a
wide audience related to Authenticatoni in
India and World.
The editorial team welcomes your news,
contributions and comments. Please send
your product updates, press releases,
conference announcements or other
contributions to ASPA:
21-Ground Floor, Devika Tower 6
Nehru Place, New Delhi 110019, India
Telfax: +91 (11) 41617369
Email: info@aspaglobal.com
Website: www.aspaglobal.com
Disclaimer:
The data used here are from various
published and electronically available
primary and secondary sources. Despite
due diligence the source data may contain
occasional errors. In such instances, ASPA
would not be responsible for such errors.
Diverse technologies, common goal.
Authentication Solution Providers’ Association
(ASPA) is a self-regulated, non-profit
organization of authentication solution
providers. Founded in 1998 as Hologram
Manufacturers Association of India (HoMAI), it
has now been re-launched in 2014 as ASPA to
more accurately represent the transformation
of products and services offered by its existing
member companies. The broader scope
of ASPA also covers a wide array of other
technologies that have evolved over the years.
As the world’s first and only industry body
of its kind, ASPA aims to comprehensively
covers the interests of the entire authentication
solutions industry worldwide, including, but
not limited to, holograms, optically variable
devices (OVD’s), taggants, security inks and
substrates, watermarks, nanotechnologies,
RFIDs, barcode/ QR code-based digital
tracking and verification solutions, security
and tamper-evident labels and any other
brand protection and authentication solutions.
ASPA works closely with global authorities
such as International Hologram Manufacturers
Association (IHMA), Counterfeit Intelligence
Bureau (CIB) and Interpol. ASPA members
protect over 10,000 brands worldwide through
the identification of genuine products and
documents.
* ASPA participating events. Meet us at these events to know more about us.
www.aspaglobal.com 19

20. The Authentication Times
Inaugural Issue
20 www.aspaglobal.com