Giesecke & Devrient has introduced a security system that relies on cell phones to reduce the risk of receiving bogus bills.

The Munich-based technology firm this week introduced MAGnite, a technology that embeds very small capsules in the pigment of ink used to print bank notes. The capsules rotate when they come in contact with a magnetic field, such as the one produced by magnets found in the loudspeakers of mobile phones.

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