Federal Reserve Chairman Ben Bernanke says it's a challenge for the government to stay ahead of counterfeiters as technology becomes more sophisticated and more dollars flow overseas.
Bernanke's brief remarks come at the unveiling of a redesigned $100 bill. The government hopes the new bills will make it harder for high-tech counterfeiters to knockoff, The Associated Press informs.
According to Reuters, newly designed $100 note contains advanced security features to combat counterfeiters, but older $100 notes will remain in circulation after the new currency is released in February 2011, top U.S. Treasury and Federal Reserve officials said on Wednesday.
The note retains the traditional look of the U.S. currency, with Benjamin Franklin's portrait, but contains a blue three-dimensional security ribbon with alternating images of bells and the number 100 that change as the viewing angle is tilted. It also has a bell image on the front that changes from copper to green when tilted.
"As with previous U.S. currency redesigns, this note incorporates the best technology available to ensure we're staying ahead of counterfeiters," U.S. Treasury Secretary Timothy Geithner said in a statement.