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Liberty Bank’s s Special Statement on Counterfeit 20-GEL Banknotes

Liberty Bank’s s Special Statement on Counterfeit 20-GEL Banknotes

Liberty Bank has released a special statement on 20-GEL counterfeit banknotes.

“We would like to comment on the information that was spread today on withdrawal of 20-GEL banknotes from a Liberty Bank ATM terminal.

Liberty Bank has introduced cutting-edge standards for providing currency turnover security in the bank network and these standards fully guarantee prevention of distribution of counterfeit banknotes through the network. The bank’s staff strictly follows the security norms for loading money into the ATM terminals. Banknotes received from the National Bank of Georgia are mainly loaded into the ATM terminal. Before loading to the ATM network, the bank’s currency turnover department and appropriate specialists examine banknotes through Giesecke & Dervient device for detecting counterfeit banknotes and sorting banknotes. This system is one of the leaders in the appropriate market and fully satisfies the modern requirements of security standards.

This device examines each banknote and separates suspicious notes, if any, to additionally inspect them visually and examine them by electric appliances. Liberty Bank loads banknotes approved after exploration process. Liberty Bank serves clients through about 450 ATMs and our clients withdraw about 170 million GEL a month.

As to money turnover in the Liberty Bank service centers, besides visual inspection, cashiers and other staff of the bank examine banknotes through special electronic devices that additional provide prevention of loading counterfeit banknotes into the turnover.

It should be also noted that the banknotes that go to cash-desks, , besides visual and electronic inspection, fully pass the money loading security procedures before they are loaded into ATMs

Despite the bank strictly defends the security regulations and we rule out probability of disseminating counterfeit banknotes through our ATMs, Liberty Bank is ready to cooperate with law enforcers in any form to cast light on real circumstances of this case.

Along with cooperation with law enforcers, Liberty Bank continues protecting consumer rights and their financial security. To this end, we offer several alternative mechanisms for protecting their rights, under which they can enjoy our services at service centers, as well as distance services of phone centers or website – www.libertybank.ge”, the bank’s statement reads.