Countering the Counterfeiters

Counterfeiting is nothing new – indeed it has often been called the world’s second oldest profession (no prizes for guessing the first). Counterfeiting of money has been going on ever since the invention of physical money in around the 6th century BC. The main deterrent for counterfeiting in historical times was punishment – generally capital punishment, as it was considered a crime against the state. In our more enlightened time, technology is providing the answer.

In this issue, we take a look at four new developments to protect gold bars and commemorative coins from counterfeiting.

Digital passport for gold

First, digital fingerprinting specialist Alpvision has announced that it has been accredited by the LBMA Gold Bar Integrity (GBI), which will allow the company to partner with major players across the global precious metals industry as part of the GBI Security Features initiative. Launched by LBMA and the World Gold Council (WGC), the GBI initiative aims to digitally monitor gold as it moves through the entire global supply chain, making it easier to mitigate illicit trade risks and reduce the likelihood of fraudulent bars entering the formal supply chain.