The Advanced Counterfeit Deterrence (ACD) program was established in July 1982 at the Departmental Offices level of the U.S. Department of the Treasury to monitor and communicate counterfeit deterrence issues with the Secretary of the Treasury. The ACD acts as liaison to the Secretary of the Treasury, reporting the combined findings of the committee, which includes senior executives from the Department of the Treasury, the BEP, the Board of Governors of the Federal Reserve System (FRB), the United States Secret Service (USSS) and the Currency Technology Office (Bank Operations).
Currency redesign is based on maintaining the security of Federal Reserve notes. Therefore, the ACD is dedicated to maintaining and ensuring the integrity of U.S. currency by exploring existing and emerging technologies to deter the counterfeiting of U.S. currency in the U.S. and worldwide. Its goals are:
To educate the public, and money-handlers, so they may detect, reject, and report suspected counterfeits;
What is the role of each of the organizations sitting on the committee?
The ACD charter requires its member organizations to collaborate on developments related to new designs of Federal Reserve notes.
The BEP is ultimately responsible for currency production. The FRB has oversight responsibility for currency issuance and circulation, and the USSS has relevant information about how the notes must function in circulation to be user friendly and secure against counterfeiting. The Secretary of the Treasury approves each new currency design.
In close collaboration with the FRB, the BEP leads and implements the plan to develop new currency designs, integrating input from appropriate sources, including the FRB, Currency Technology Office of the FRB, and the USSS, internal working groups, external studies, and any other sources that provide input and technical support to the development plan.
Are there other groups or committees involved in developing new currency designs?
Yes, the ACD steering committee established the Interagency Currency Design Technical Group (ICD). The ICD was established to provide guidance on design and other subjects related to new currency.
Who does the ICD report its findings to?Members of the ICD report to their respective agencies; the ICD as a group reports its findings and recommendations to the ACD.
Regular ACD steering committee meetings facilitate monthly BEP, FRB, USSS reporting to discuss ICD recommendations and other issues.
Are there counterfeit deterrence studies I can read?
Yes. The following are available to download for free after subscribing to the service.