U.S. to issue more colorful `greenback'

As part of an ongoing effort to combat counterfeiting for its currency, U.S. government recently unveiled a new US$20 note design with enhanced security features and subtle background colors.

The new bills -- to be issued this fall -- bear easily recognisable new colors subtle green, peach and blue featured in the background.

The new bills will remain the same size and use the same, but enhanced portraits and historical images of Andrew Jackson on the face and the White House on the back of the note.

The new $20 design retains three important security features that were first introduced in the late 1990s. The watermark, security thread and color-shifting ink are easy for consumers and merchants alike to check.

"This is the new color of money; it is safer because it is harder to fake and easier to check, smarter to stay ahead of tech-savvy counterfeiters, and more secure than ever," said Tom Ferguson, director of the Treasury's Bureau of Engraving and Printing.

Advances in technology has made counterfeiting of currency easier and cheaper. In 1995, for example, less than 1 percent of counterfeit notes detected in the U.S. was digitally produced. By 2002, the figure had grown to nearly 40 percent, according to a report from the U.S. Secret Service.

U.S. government also planned to issue $50 and $100 notes in 2004 and 2005 respectively. Redesign of the $5 and $10 is under consideration, but so far there is no plan to revamp the $1 and $2 notes.

Older-design notes will remain legal tender, even after the new money is issued. -- JP