Mechanism for Compensating Damaged Cash Marked with Security Inks

Mechanism for Compensating Damaged Cash Marked with Security Inks
No: 41025174 Date(g): 9/12/2019 | Date(h): 12/4/1441 Status: In-Force
Translated Document
Further to the instructions of SAMA communicated under Circular No. 53506/198 dated 13/04/1440H regarding the mandatory use of secure cash transport containers by cash transport companies, banks, and currency exchangers during the receipt and delivery of cash from branches, cash centers, remittance centers, currency exchangers, and the retail sector, and in light of SAMA's commitment to encouraging developments in the financial sector and enhancing security and integrity measures,
You will find the regulations and procedures for compensating Saudi currency marked with security inks due to technical and human errors, along with the related forms.
For your review and implementation effective immediately. The central bank will conduct field visits to verify compliance with these instructions.

Regulations and Procedures for Compensating Saudi Currency Marked with Security Inks Due to Technical and Human Errors
1. Beneficiary entities must ensure that security cash containers comply with the technical specifications approved in SAMA's Circular No. 53506/198 dated 13/04/1440H which mandates that cash transport companies, banks, and currency exchange offices must use security containers for transporting cash during the receiving and delivery processes from branches, cash centers, remittance services, currency exchange offices, and the retail sector.
2. The trading of banknotes marked with security ink is strictly prohibited.
3. Ink-stained banknotes must be presented directly to a SAMA branch for evaluation and compensation processing. This submission must be accompanied by the completion of the compensation request and the declaration form below.
4. Ensure that cash counting, sorting, depositing machines, and self-service devices are capable of detecting and rejecting ink-stained banknotes.
5. Train cash-handling staff to identify and detect banknotes marked with security ink.
6. Ink-stained banknotes must not be included in bank deposits made to SAMA’s branches. A fine will be imposed for each ink-stained banknote found in the bank's deposit, in accordance with Article 23 of the Banking Control Law.
7. The bank requesting compensation will bear the operational costs for compensating ink-stained banknotes for any cases where negligence and failure to adhere to security protocols are proven.
8. The bank is responsible for ensuring that ink-stained banknotes are not accepted and must immediately notify SAMA and the relevant security authorities. Additionally, they must complete the forms below. The bank is also accountable for any failure by its cash transport contractor to comply with these instructions.

Forms

Form (1-1): Request for Compensation of Currency Marked with Security Ink

Name of the Beneficiary/Agent Reviewer ..........................................		Name of Authorized Person	.............................................
ID Number ..........................................		Phone Number	.............................................
Mobile phone number..........................................		Email Address	.............................................
P.O. Box ..................................	Postal Code ..................................		City ........................................
Agency Number, Date, and Issuing Authority ...................................................................................................................................................
Notes: The ink-stained currency must be dry and organized by denomination, with each bundle containing 100 notes of the same denomination.
User ............................. Currency Protection Device Manufacturer .............................. Serial Number ..................................
Denomination ...........................................		Number of Banknotes	..............................................
The amount in letters ..................................................................................................................
Reasons for Currency Damage Requiring Compensation:
O Attempted Theft		O Misuse of Cash Transport Bag
O Technical Reasons		O Other
Required Attachments:
O Report/Certificate from Civil Defense		O Report/Certificate from Police
O Power of Attorney		O Declaration for Currency Requested for Compensation
O Any Supporting Video/Photos – if available
I request that the compensation amount decided by the Compensation Committee be transferred to
IBAN Bank Account Number	..................................................................................................................
Bank:	..................................................................................................................
Other Method	..................................................................................................................
Beneficiary/Agent Name	................................	Signature	................................
Name and Signature of Cashier		Name and Signature of Operations Head
...........................................................................		...........................................................................
Automated System Transaction Number: .......................................................................................................................................
Branch/Central Treasury Procedure After Committee Approval of Compensation Amount Amount Paid to Beneficiary
O Transfer to Account		O Other
Automated Transaction Number .........................................................................................................................
Name and Signature of the Treasurer ..................................................................................................................
The procedure at the branch/center's treasury after one financial year from the approval of the compensated amount due to the inability to contact the beneficiary....
Transaction Number from the Automated System: ..................................................................................................................
Recipient of the Form from the Banking Services Division.................................................................................................................
Name ....................................		Signature	....................................

Form (1-2): Declaration for Currency Requiring Compensation

Reviewer Information

Name of Reviewer: ................................................................................... ID Number: .........................................................

Mobile Number: ............................................................. Employer: .............................................................................

Review Location: SAMA Branch in the City of...............................................

Review Date: Day Corresponding to ___ / ___ / 14__H

I, hereby certify .................................................................................................................................................
that the details of the cash amount requested for compensation are accurate as outlined below

Source of Cash : .................................................................................................................

Ownership of Cash: ..............................................................................................................

Reported Amount: ..............................................................................................................

Denominations: ............................................................................................................................

Reason for Damage: ..................................................................................................................

I also acknowledge that intentionally damaging Saudi currency is punishable. If it is proven that the currency listed above was intentionally damaged, compensation will not be provided. Additionally, if any counterfeit currency is detected, the relevant counterfeit currency laws and regulations will be applied.

Reviewer Name: ................................................................. Signature: .......................................................................

For Treasury Division Use (Branch):

Authorized Person's Name: ..................................................................................

Authorized Person's Position: ...............................................................................

Signature: ........................................................................................

Form (3-1): Report or Record of Currency Marked with Security Ink

Date	143H/ /	Corresponding to	/ / 20 G	Issue Number
Obtaining the currency marked through			Report		Seizure
Place of obtaining the marked currency	Bank		Store	Police	Police Station	Individual	Other
Place of obtaining the marked currency

Person Submitting the currency	First Name	Father	Grandfather	Family	Place of Birth	Country	Nationality

Identity	Type		Number		Date		Source

Gender	Male	Female	Marital Status		Education		Occupation

Address	Work					Phone
	Residence					Phone
Sponsor	Name					Phone
	Address					Phone

Description of Currency Marked with Security Inks

Currency Type	Denomination	Quantity	Serial Number

Receiver of Report			Reporter
Name	Job Title	Rank	Name	Signature

Signature			Fingerprint

Copy / For case file.

Copy / For General Security / Criminal Security / Criminal Investigation Department.

Copy / For SAMA Authority, Currency Department.

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