Goznak gets patent for counterfeit-proof value document

Goznak is among the eight firms that have bagged contracts to supply currency paper to India in 2017

Russian company Goznak, which has been supplying paper for currency notes to the RBI, has received the patent to improve their protection against counterfeiting.
 

The technology for this uses a fluorescent substance exhibiting visual and computer-readable properties that provide identification to bank notes. 

According to a recent report, Goznak is one among the eight firms that got the contract to supply currency paper to India. The patent application was filed in May 2011 at the Patent Office in Mumbai.

The patent specification says the invention relates to the protection of documents against counterfeiting and is for authenticating printed products such as banknotes, excise marks, paper securities, postage stamps and labels. 

This approach ensures a high level of protection owing to the possibility of providing hidden security elements and a contactless verification method, says the patent specification with the Patent Office. In the light of these advantages, hidden security features based on the use of various inorganic fluorescent compounds were found to have wide applications in banknotes.

However, the known fluorescent compounds based on rear earth elements cannot enhance the counterfeit protection of a valuable document whereas the innovation enhances the protection.

The patent office has granted the claim of the application.

Goznak, which became a joint stock company from a unit under the Russian government, manufactures security bank note paper, coins, passports, postage stamps and other security products.

The company announced in May 2015 it had received the contract for supplying paper for producing 50-rupee notes.

According to a recent report, in December a meeting was held in Bengaluru to finalise the tender bids for the contract to supply banknote paper for lower-denomination currencies. The supply is expected to start in April.