The Japanese Ministry of Finance has announced that the new series of Bank of Japan notes, designed to strengthen anti-counterfeiting measures, will start circulating in the first half of July 2024. The initiative follows the decision made by the Ministry in April 2019 to produce a new series of notes to enhance the country’s ability to prevent counterfeiting and fraud.
The Ministry will publicly disclose the precise date of issuance once all necessary preparations have been completed. It has been emphasized that the current series of banknotes will remain valid following the release of the new notes.
In a bid to thwart potential scams that could arise amidst this transition, the Ministry has urged the public to remain vigilant of fraudulent practices claiming the invalidity of the current series of banknotes.
The Ministry’s notice underscores that the existing series of banknotes will continue to be valid even after the launch of the new series. Therefore, holders of the current series of banknotes need not be concerned about their validity post the issuance of the new notes.
The move to roll out the new series of notes highlights the Ministry’s proactive approach to combat counterfeiting and underscores the importance of maintaining a secure and reliable monetary system for Japan’s economy.