Why the war on cash is failing.

Travelex, an international cash handling group, is training South African banks and cash handlers on the latest counterfeit US dollar banknote scams. Counterfeiters are more focused on the US dollar due to its status as the world's reserve currency. Despite efforts to eliminate cash, it is expected to remain in circulation for the foreseeable future. Africa is Travelex's largest market, with a doubling in demand for USD banknotes predicted by 2030. Central bank digital currencies (CBDCs) are being considered in Africa, but Nigeria's failed experiment with the eNaira serves as a cautionary tale. The US dollar is the preferred transactional currency in many African countries, with over 90% of transactions in Zimbabwe conducted in USD. Counterfeit US dollars continue to be a concern, with recent seizures of fake banknotes in Turkey, Germany, and Senegal. The US Secret Service works to track down counterfeiters, but some forgeries can still fool casual examination. Various security features, such as holographic ribbons and raised printing, make US dollars difficult to forge. Other currencies, such as the British pound and Australian dollar, are printed on durable polymer, while the euro is printed on cotton fiber. The South African Reserve Bank has also introduced new banknotes with enhanced security features. [Extracted from the article]