A Path to the Next Generation of U.S. Banknotes: Keeping Them Real, 2007.
National Research Council, funded by the Department of the Treasury.

This report presents the results of a systematic investigation of the trends in digital imaging and printing and how they enable emerging counterfeiting threats; the identification and analysis of new features of Federal Reserve Notes that could provide effective countermeasures to these threats; and an overview of a requirements-driven development process that could be adapted to develop an advanced-generation currency.

Is That Real? Identification and Assessment of the Counterfeiting Threat for U.S. Banknotes, 2006.
National Research Council, funded by the Department of the Treasury.

To identify and evaluate significant emerging counterfeiting threats and to assess technologically feasible counterfeit-deterrent features for potential use in new designs. This first report provides an assessment of emerging threats including a wide range of digital imaging and printing techniques. It also presents an analysis of a systems approach to the counterfeiting threat. The second report will offer an evaluation of new banknote features to address these threats.

Counterfeit Deterrent Features for the Next Generation Currency Design, December, 1993.
National Research Council, funded by the Department of the Treasury.

To analyze and recommend overt counterfeit deterrent features that could be incorporated into a redesign of U.S. bank notes. Starting in with the 1996 Series, U.S. paper currency is being redesigned to incorporate anti-counterfeiting features. Features recommended included color-shifting ink, a watermark, microprinting, a security thread and other features that are difficult to copy.