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note paper and the distinctive ÒraisedÓ<br />
feel produced by intaglio printing. In<br />
all known counterfeit categories,<br />
forgers have so far failed to successfully<br />
reproduce these features. While<br />
the quality of the counterfeits recovered<br />
has increased, the FEEL —<br />
LOOK — TILT test (see box 5) remains<br />
sufficient to detect euro counterfeits.<br />
To remain at the cutting edge of<br />
technical progress and innovation,<br />
banknote series are replaced at regular<br />
intervals. A key aspect in designing<br />
the new series of euro banknotes<br />
is the EurosystemÕs objective to provide<br />
state-of-the-art security features.<br />
Since banknotes are highly sophisticated<br />
products that need to be<br />
produced in large quantities, preparatory<br />
work on the next banknote series<br />
already started in <strong>2004</strong>. The first<br />
banknotes of the new series are expected<br />
to be issued toward the end<br />
of this decade.<br />
When it comes to establishing the<br />
authenticity of banknotes, their quality<br />
(ÒfitnessÓ) is a key factor. The better<br />
the quality is, the easier it is to<br />
check the security features, especially<br />
the property of the paper and the<br />
raised ink features. In order to guarantee<br />
the fitness of the euro banknotes<br />
circulating in Austria, the<br />
OeNBandGSAprocessedapproximately<br />
960 million banknotes in<br />
<strong>2004</strong>. In other words, every banknote<br />
circulating in Austria was checked<br />
three to four times on average by<br />
OeNB or GSA experts and removed<br />
from circulation when found unfit.<br />
At the same time, more and more<br />
banks and retailers with a high cash<br />
turnover use special equipment on<br />
site to check banknotes for authenticity<br />
and, to some extent, for quality.<br />
To be able to offer guidance to users<br />
and producers of such equipment, a<br />
Test Center was installed in the<br />
Integration of Payment Services in Europe and Consolidation<br />
of Cash Distribution Structures in Austria<br />
OeNBÕs Cashier Division in <strong>2004</strong>,<br />
where banknote and coin handling<br />
machines can be checked for their<br />
usefulness and effectiveness. Furthermore,<br />
work is under way to establish<br />
a structured procedure for making<br />
the test results available to a closed<br />
user group (via the dedicated website<br />
for professional cash handlers,<br />
https://bargeld.oenb.at). At the same<br />
time, the OeNB thus meets ECB requirements<br />
for cash recycling machines.<br />
Yet the efforts to produce stateof-the-art<br />
banknotes and ensure the<br />
fitness of circulating banknotes alone<br />
are not enough; cash users must also<br />
be familiar with the security features<br />
of banknotes. This is why educating<br />
the general public, but above all professional<br />
cash handlers about the distinctive<br />
features of euro banknotes<br />
is of utmost priority. After all, cashiers<br />
at banks and retailers and the police<br />
are at the forefront of protecting<br />
the public at large against counterfeits.<br />
In this respect, the OeNB again<br />
considerablysteppedupitsinformation<br />
activities in <strong>2004</strong>. All in all, the<br />
OeNB hosted 495 workshops to provide<br />
in-depth information to more<br />
than 10,000 cash-handling experts.<br />
Furthermore, the OeNB reached<br />
out to approximately 68,000 people<br />
via its mobile branch office, the euro<br />
bus touring Austria, as well as at trade<br />
fairs.<br />
The OeNB uses its regional network<br />
of cash service providers as a<br />
channel for disseminating information<br />
and hosting training sessions on<br />
banknotes. The OeNBÕs branch network<br />
offering cash services throughout<br />
Austria was reorganized in <strong>2004</strong><br />
following the changeover to the euro.<br />
The establishment of four regional<br />
hubs ensures that the OeNBÕs range<br />
of services continues to be accessible<br />
throughout Austria. The decision to<br />
Continuous<br />
monitoring of<br />
banknote quality<br />
OeNBÕs regional<br />
network of cash<br />
service providers<br />
<strong>Annual</strong> <strong>Report</strong> <strong>2004</strong> ×<br />
57