MONEY LAUNDERING: NEW MACHINE CLEANS BANKNOTES

Spectra Systems Corp. announced Monday it has secured patents for machinery that will allow the world’s central banks to effectively clean currency for reuse rather than paying billions of dollars each year to replace it.

The patent protects Spectra as the pioneer of a process that relies on carbon dioxide, supercritical fluid and a money-cleaning machine that actually bears some resemblance to a laundry appliance.

Spectra’s machine and patented technique transforms grimy money — which doesn't meet the qualifications of central banks — into usable money.

Annually, the world's central banks shred roughly 150,000 tons of worn-out cash — about 150 billion notes — and spend almost $10 billion replacing the currency. Spectra also announced that it will have a machine ready for sale by March 31. The unit will clean up to 130,000 banknotes in one run and can clean up to 150 million notes per year, according to a news release.

As people handle currency, it attracts oil from skin, or sebum. The sebum yellows the notes and built-up sebum disqualifies the money under the standards of many central banks. It can also damage security features.

To read the complete article, see:
Providence company patents banknote cleaning machine (www.providencejournal.com/breaking-news/content/20150119-providence-company-patents-banknote-cleaning-machine.ece)

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