2017-03-01 Wed

Goznak is Russia's world-renowned manufacturer of banknotes, bank cards and other secure products. It was established in 1818 at St. Petersburg by Emperor Alexander I. Napoleon II had spread counterfeit currency between 1812 and 1817. To tackle this problem, a new institution for printing counterfeit-proof banknotes was formed.

Initially named Expedition of Storing State Papers (EZGB), the state-owned factory was renamed as Goznak in 1919. It can today produce 11,000 tonnes of security banknote paper, 7 billion banknotes, 5 billion coins, 40 million passports and 30 – 45 million postage stamps, as well as federal special and excise stamps and other products. The company exports these products all over the world and produces banknotes for 25 other countries, including Indonesia for the last 10 years.

Smaller countries prefer outsourcing the production of notes to a different company so that they don’t have to buy and install expensive machines or technologies. Bigger countries seek help when they are not capable of producing a large number of currency notes. It is also important that experts are handling the equipment and continuous training is provided.

There are three levels of security features: public, cash and machine-readable. Some banknotes have the highest level of protection like the Russian ruble. The "Plamet” technology offers greater protection from counterfeiters, easier recognition, a lower cost of production and a 10- year life expectancy. It is impossible to produce fake notes with the same kind of security features.