Rio Delivers a Stunning Display for HSP LatAm
This year’s High Security Printing (HSP) Latin America, the 12th edition of the conference, returned to Rio de Janeiro, where it all began with the inaugural event back in 2012. And not just to the same country and city, but the same spectacular Sheraton Grand Rio hotel overlooking the same spectacular Leblon beach.
The sell-out conference was both a homecoming and a reminder of how far the event has advanced in its 13 year history. Whilst remining true to its founding principle as an event in the region and for the region, it now has a wider focus on the challenges, opportunities and – notably – the successes of the high security sector in Latin America and the Caribbean and also has more people taking part than ever before. Over 310 delegates attended from 143 organisations and 42 countries, including 137 from Latin America and the Caribbean. The ratio of supplier organisations to government (central bank, ID and passport issuing authorities and law enforcement) – an important metric for the conference – was one to three.
The twin track programme delivered two workshops – one a full-day hands-on discussion on cash sustainability together with the International Currency Association, and the other a half-day session run by Entrust that looked at the highly topical, and somewhat sobering, impact of AI on personal identity and ID documents.


The programme then delivered 47 presentations over two days, starting with the regional landscape for secure documents, concluding with initiatives to battle counterfeiting, and ranging from design, security, substrates and features to production and print, sustainability, and combating fraud in-between.
The conference was formally opened by Antonio José Medina Lima Júnior of the Central Bank of Brazil, and by Thaigo Marçal Portela of honorary sponsor Casa da Moeda do Brasil, both of whom introduced delegates to the payments, cash and ID production landscape in the country.
On the currency front, a number of central banks took delegates through developments in their currencies from a range of different perspectives.
The Central Bank of Curaçao and Sint Maarten, for example, talked about the imaginative public engagement campaign to ensure support and familiarity for not just a new series of banknotes and coins, but a whole new currency.
The Central Bank of Boliva explained how the upgrade of its banknotes has resulted in a dramatic reduction in counterfeits – from a ratio of 200 ppm in 2016 to 26 ppm in 2025.
Banco de Guatemala provided the rationale for its award winning commemorative 1 quetzal banknote, issued to reinforce national pride in the stability of the currency over the100 years since its introduction.
The Central Bank of Costa Rica offered an end-to-end overview of the cash department’s work, particularly the latest series which has been created with sustainability at its heart. From the images on the notes, to the choice of substrate through to extensive work done to ensure that the polymer is recycled and turned into useful products, creating a sustainable cash cycle has been at the heart of the project.
There were plenty of technical innovations too, some of which were demonstrated in a number of new house notes presented at the conference for the first time.
Two of them were from Casa da Moeda do Brasil. First was the Rio note – the third in a series to be produced to demonstrate sustainability in features and substrates as part of the Tran$forma initiative with the Brazilian papermaker BP Security. The note also demonstrates CMB’s design capabilities, with stunning imagery celebrating the iconic culture and topography of the city. The Rio note follows on from the Cotton Cycles house note – also presented at the conference – which won the Best New House Note award.
Second was the Boa Sorte (Good Luck) note, the first in the world to be produced on Spectra System’s Fusion polymer substrate, with an embedded level 3 taggant and a brand new level 1 security feature from Oberthur Fiduciaire – Kryptonome™, a digitally-generated polymer-specific OVD with lenticular effects similar to a watermark that are viewed in the window.
China Banknote Printing and Minting also presented two house notes – one with a panda theme on polymer and the other with an avian theme on paper. Both were designed to demonstrate its active programme of innovation and development of substrates, new optical security features and the implementation of smart end-to-end production.
While CBPM makes printing equipment, inks and security features, and is arguably fully self-sufficient, it also has an active policy of collaborating and working with other organisations. As it said, it can’t do everything
Latin America is something of a global trailblazer in the protection of the environment, and this was evident throughout many of the presentations.
They included Brazilian papermaker BP Security who is recycling banknote paper into new banknote paper, and Biobanknote of Colombia, who spoke of its various products generated from banknote waste. Two such products are Biofort, an organic soil fertiliser, and BiobankMulch, a biodegradable protection ring for trees. The company has also developed Biobanksludge, which transforms the sludge from intaglio printing into soil enhancers, and will shortly launch the Bioreactor, a composting solution that turns banknote waste into compost in 24-48 hours.
Continuing on the sustainability theme, delegates heard about Oberthur’ s new Green HighLink, a durability treatment that adds bio renewable elements to latex that is incorporated into cotton paper substrates, and about sister company Oberthur Cash Protection’s answer to reducing the environmental cost of transporting banknotes – namely Intelligent Banknote Neutralisation Systems (IBNS) that deface cash during robberies, thereby removing the incentive to steal it and hence reducing the need for heavy weight, energy-intensive armoured vehicles.
SICPA described its four-point programme for reducing the environmental impact of ink, ranging from hazard free materials and less fossil dependency to production efficiencies and life cycle optimisation. It also celebrated the growing success of SPARK®, the various iterations of which are now in use in 120 of the world’s currencies and introduced its new SPARK Flow Stream feature.
Hueck Folien reviewed its sustainability work using its Ocean Dollar as a recycling concept for banknotes. This includes Optomove® security thread that achieves 53% CO2 savings through the recycled PET and aluminium it uses and is produced on EcoBreath® paper from BP Security in partnership with the Casa da Moeda do Brasil.
Hueck Folien also talked about Nanoswitch®, which combines nanoengineered optical security elements with partial ColorSwitch™, and is the result of a new, and now enhanced, cooperation with IQ Structures, who also presented on its latest optical features. As did KURZ with KINEGRAM Agile and Louisenthal on its new generation of patch features. In all cases, movement and colour are key.


De La Rue shared central bank data showing that the volume of banknotes is rising at 5% per annum across the globe – challenging central banks because of the budgetary and logistical challenges that this raises for them. This rate of increase is occurring despite the adoption of longer lasting banknotes and introduction of new high values.
De La Rue argued that a move to a polymer substrate offers such a step change in note life, that much of cost and complexity of ever-increasing demand for banknotes can be mitigated.
On the production side, Komori offers a Basic and Advanced version of its KP-Connect cloud-based data system, which can collect data from up to 15 machines and offer staff a complete view of the performance of the equipment and staff. The data ranges across environmental data through performance and quality to security.
The Latin America region has a rich history of innovation when it comes to travel documents, as demonstrated by Mónica Peralta, who traced the evolution of Latin American passports from 2012 to the present. But she also added this insight: digital identity may be gaining momentum, but physical credentials remain operationally and strategically essential. Peralta cited that 70% of funding gaps in identity programmes stem from poor identity verification infrastructure, exacerbated by reliance on weak breeder documents.
Simon Horswell and Michael van Gestel of Entrust provided a sobering update on the evolving fraud environment. Their presentation underscored the rise of AI-assisted document forgeries, which have now overtaken traditional counterfeits in volume and sophistication. With tools enabling real-time manipulation of identity documents and faces (deepfakes), even low-skill fraudsters can execute high-impact attacks. The audience participated in a live test, attempting to distinguish 20 digital forgeries from genuine documents. Even the best performer misidentified five, highlighting the vulnerability of human visual inspection and the urgent need to elevate digital ID verification standards.
Cassiano Garcia of Thales made a data-driven case for the benefits of polycarbonate (PC) in secure ID documents. With over 90 countries using PC for passports and over 100 for ID cards he made the case that migration to PC is both technically and economically justified for modern ID programmes.

Mario Arias (Toppan) argued that issuing a secure ePassport is only the first step; its efficacy depends on global certificate exchange and trust networks. He advocated for regional alignment with ICAO Public Key Directory (PKD) participation and full Public Key Infrastructure (PKI) deployment, as demonstrated by Argentina. Without this, even the best-designed ePassports can’t deliver on border security, interoperability, or user mobility.
The Casa da Moeda do Brasil’s Tran$forma initiative was highlighted as a proof of concept that sustainability and high security are not mutually exclusive. Using 100% wastepaper recycling, eco-inks, and reverse logistics, it showcased a scalable, localised model that maintains integrity without environmental cost.
Veridos introduced its FlashPass platform, noting that digital transformation without trust infrastructure will inevitably fail. Emphasis was placed on the need for secure mobile onboarding, cryptographic exchange, and user-centred system architecture to prevent erosion of confidence in digital ID systems.
Several sessions, including those by Richard Perera and Balázs Megyeri, warned that identity systems are only as strong as their foundational documents – birth, marriage, and death certificates. These are still prone to forgery and lack the robust protections afforded to passports and ID cards.
For those who chose to stay on after the main conference agenda ended, there were two tours. On 12 June 75 delegates travelled to Casa da Moeda do Brasil and to SICPA América do Sul. On 13 June a smaller group of 20 travelled to São Paulo to visit Blendpaper.
At Casa da Moeda do Brasil, delegates visited one of the largest and most sophisticated printworks and mints in the world. Located in Rio de Janeiro and founded in 1694, the delegates had a glimpse into the advanced processes and quality standards used to produce a range of high-security documents, including passports. Brazil is self-sufficient in currency production, producing approximately 2.6 billion banknotes and 4 billion coins each year.
At SICPA América do Sul, delegates explored a cornerstone of global banknote security at Insights LatAm. With a rich heritage and a strategic operational role within a global network, SICPA showcased its cutting-edge technologies in ink and features development. .
The tour to Blendpaper provided an insight into the specialised world of security paper production. The visit enriched the delegates’ understanding of the supply chain that supports document integrity and innovation across the industry.
These visits offered delegates a rare opportunity to see the key production elements of security document production from paper to ink to printing, and valuable time for meaningful engagement with experts and their cutting-edge technologies. .
The weather for HSP Latin America was nowhere near as good as it had been for Rio back in 2012; however, fortunately, on the night of the conference dinner, the clouds parted, and the moon shone – providing a memorable night on Sugarloaf Mountain with the lights of Rio and its bays shining in the valleys below. The dinner was also a carbon neutral event, underscoring the organisers’ commitment to sustainability.
The evening was also memorable for the presentation of the Regional Banknote and ID Document of the Year awards – with Curaçao and Sint Maarten, Bermuda, Guatemala, Guyana, St Kitts and Nevis, and Peru all recognised for their innovative new notes, passport or ID systems.
The weather worsened again for the beach volleyball the following evening – where players had to contend not so much with each other for possession of the ball, but with the wind. Even so, a great evening was had by all.
While it is always the goal that a conference really works, standing out as something special, some work better than others. This Rio HSP conference was one of those that really worked. With a mix of innovation, new technology, sustainability and design and production excellence running through a strong programme, excellent post conference tours and a strong social programme, the conference feedback reflects a successful event.
We will, of course, strive to make sure that HSP LatAm 2026 will be the same! Bookmark early June now with full details to follow.


Personally it was an amazing experience! I really loved the diversity of very interesting conferences. The organisation was on point and even the food was amazing. Cant wait for the next one.
First time at HSP Latin America, most of the presentations were really good, got to know a lot of providers and colleagues from other companies. A really fun but informative conference. We willl be coming back!
Highly pleased with the presentations, very professional when publicising their products and services masterfully. You have met the expectations of the CBH.
Gallery
Video
Typical for HSP Latin America is the presence of many issuing banks and institutions covering both south and middle America and the capability to communicate in Spanish. For this we met our target contacts.
Up-to-date subjects and good content. Good agenda and excellent dinner and party on Tuesday night. I enjoyed not only seeing old friends and acquaintances, but also finding new opportunities to improve my plant with what I saw and learnt about, such as up-to-date processes and new ideas.
Attendees
A great location for a great conference. Seminars are very specialised and interesting.
Good event organisation! Good space for exhibitions! Very few potential clients from the state sector. I liked it! I would participate again.
Fantastic event, a lot of new market opportunities.
Programme
Monday 9 June 2025
09:00 – 17:00 Currency – Cash Sustainability Workshop, ‘ Playing Our Part’
Led by John Winchcombe, RI and the International Currency Association (ICA)
Good policy decisions and well executed operational strategies offer the opportunity to reduce both the cost of cash and its environmental impact. While every country is unique, there is much good practice available to learn from and to adapt and adopt.
On Monday 9th June, in partnership with the International Currency Association’s sustainability committee, Reconnaissance is organising a workshop with expert speakers from central banks, suppliers and from outside of the industry. The format is designed to allow interaction and opportunities to share experience with each other across every aspect of creating, issuing, using and disposing of banknotes.
This event is available to all delegates to the High Security Printing conference but can also be attended as a standalone event.
13:30 – 16:30 Identity – Impact of AI in Identity Documents
Michael van Gestel and Simon Horswell, Entrust
AI-powered technologies help solve complex problems and make our daily lives easier and more convenient. While this is true for legitimate business, it is also true for fraud.
Computer programs trained to produce works of art or write news stories could replace the work of human artists and journalists. In the same way, these tools are rapidly replacing traditional forgery techniques and putting sophisticated fraud in the hands of less skilled fraudsters.
In this seminar, we will look at case studies of AI-assisted document fraud from remote IDV (Identity Document Verification) and ask what we can do to combat this very real threat in an increasingly virtual world.
Tuesday 10 June 2025
Underlined text on the programme is interactive, click for the abstract or biography popup.
The Regional Landscape for Secure Documents
09:00
Welcome
Astrid Mitchell
Reconnaissance International (UK)
09:10
Welcome Address from Brazil
Antonio José Medina Lima Júnior
Banco Central do Brasil (Brazil)
Sérgio Perini Rodrigues
Casa da Moeda do Brasil (Brazil)
09:20
Circular Economy in Banknotes: Connections for Sustainability
Millie Britto de Oliveira Delorme Azevedo
Casa da Moeda do Brasil (Brazil)
Marcos Pereira
Casa da Moeda do Brasil (Brazil)
09:40
New Banknote Issuance and its effects on the Reduction of Counterfeiting: Bolivia’s Experience
Juan Carlos Heredia Gomez
Central Bank of Bolivia (Bolivia)
10:00
SPARK Flow® – The Essence of light – A Proven Solution for Banknotes and Passports
David Pillard
SICPA (Switzerland)
Fergus Graham
SICPA (Switzerland)
10:20 Q&A
10:40 Break and Exhibition Viewing
Regional Currency Developments
11:20
IMBISA’s New hi-tech Security and Automation Printworks – Madrid
Julio de Ancos
Imprenta de Billetes (IMBISA) (Spain)
11:40
Guatemala Celebrates 100 Years of the Quetzal
Alvaro González Ricci
Banco De Guatemala (Guatemala)
12:00
Marking the Mark Towards an Extended Producer Responsibility
Gustavo Ascenzo
CCL Secure (Australia)
12:20
New Caribbean Guilder Series
Nancy van der Wal
Centrale Bank van Curaçao en Sint Maarten (CBCS) (Sint Maarten)
12:40
Cash Demand in Times of Crisis: Ensuring a Resilient Infrastructure Amid Financial, Technological, and Political Disruptions
Gerhard Roesl
Ostbayerische Technische Hochschule (OTH) Regensburg (Germany)
13:00 Q&A
Regional Developments in Identity Documents
11:20
Evolution of Passports: A Journey Since 2012
Mónica Peralta
National Department of Immigration (Argentina)
11:40
Sustainable Passports: Connecting the World Through Circular Innovation
Millie Britto de Oliveira Delorme Azevedo
Casa da Moeda do Brasil (Brazil)
Nathalia Salles Ruivo de Barros
Casa da Moeda do Brasil (Brazil)
12:00
Mobile ID in Latin America: Unlocking Security, Efficiency, and Economic Growth
Moisés Teodoro Toledo Mejía
Veridos México (México)
12:20
The Evolution of St.Kitts and Nevis’ ePassport
Michael Walker
Canadian Bank Note Company (Canada)
12:40
To Migrate or not to Migrate to Polycarbonate
Cassiano Garcia
Thales (France)
13:00 Q&A
13:10 Lunch
Sustainability and Environment
14:30
Banknote Paper Second Generation: How to Increase the Life?
Alexandre Ambrozio Gilberti
Blendpaper (Brazil)
14:50
Good Luck House Note – Advances in Polymer Banknote
Ian Brigham
Spectra Systems Corporation (USA)
Millie Britto de Oliveira Delorme Azevedo
Casa da Moeda do Brasil (Brazil)
15:10
Can We Make Cash More Sustainable?
Camille Cossec
Oberthur Fiduciaire (France)
15:30
BiobankMulch & BiobankSludge Cash Waste Sustainability Solutions
Yolanda Ospina
Biobanknote (Colombia)
15:50
Sustainable Solutions for the Future of Cash
Jérôme Sauser
SICPA (Switzerland)
Christophe Schaller
SICPA (Switzerland)
16:10 Q&A
Design & Security
14:30
Risk Mitigation Through Document Design
Elaine Wooton
HSI Forensic Laboratory (United States of America)
14:50
How to Safeguard Identity by Securing Physical Documents at Their Core
Hildebrando Duran
Linxens (Germany)
15:10
Making the Most of Your ePassport
Mario Arias
Toppan Security (Hong Kong)
15:30
Birth, Death, Marriage Certificates: The Forgotten Documents
Richard Perera
Landqart (Switzerland)
15:50
Large size embedded DOVID: Why limiting ourselves? – Latest Latvia ePP Case Study
Amaury de Bar
INGroupe (France)
16:10 Q&A
16:20 Close Day One and Exhibition Viewing
19:30 Conference Dinner and Presentation of Regional Banknote and ID Awards
Wednesday 11 June 2025
Substrates and Features
09:00
Achieving the Greatest Value from your Banknotes
Joanna Murray
De La Rue (UK)
9:20
The Agile KINEGRAM® – Make a Move with KURZ
Ian Smith
Leonhard KURZ (Germany)
9:40
Banknote Security Universe – The Sum of Millions of Tiny Parts
Holger Funk
Louisenthal (Germany)
10:00
Sustainable Money Cycle: The Ecological End of Costa Rican Banknotes
Alberto Morales Herra
Central Bank of Costa Rica (Costa Rica)
10:20
Can Banknotes Stay Smarter Than Criminals? When Human Eyes Fail, Technology Fights Back
Carla Guardia Malaga
Regula Forensics (Latvia)
10:40 Q&A
Innovation for Secure Documents
9:00
Identity Validation Through Biometrics: Innovation and Emerging Technologies for Secure Documents
Fernando José Velasco Aguirre
Registro Nacional de las Personas Naturales (El Salvador)
09:20
Does Size Really Matter? The Power of Miniaturization in Electronic ID Documents
Ksenia Egorova
INFINEON TECHNOLOGIES (Germany)
9:40
The Art of Identity Perfected by the Republic of Science ID
Monika Kłysińska
Polish Security Printing Works (PWPW) (Poland)
10:00
Advanced fluorescent security solutions in polycarbonate ID Documents SIMPLE ▪ IMPRESSIVE ▪ SECURE
Balázs Megyeri
ANY Security Printing Company PLC (Hungary)
10:20
Smart Materials – Overt and Covert Security Features
Dr Ravi Adhikari
Angstrom Technologies (USA)
10:40 Q&A
11:00 Break and Exhibition Viewing
Production & Print
11:40
KP-Connect by Komori: Boosting Productivity for Banknote and Security Printers
Phil Holland
Komori Corporation (Japan)
12:00
Unfold a New Dimension of Security
Jan Hofmann
Hueck Folien (Austria)
12:20
Designing High Security Products with Combined Printing Technologies
Barna Barabás
JURA (Hungary)
12:40
China New House Note
Wang Hongwei
China Banknote Printing and Minting Corporation (CBPM) (China)
13:00
How to Improve Cash Sustainability and Reduce the Cost of Cash with IBNS Technology
Patrice Rullier
Oberthur Cash Protection (France)
13:20 Q&A
Combating ID Fraud
11:40
Physical versus Digital Security of eID Documents
Fermín Teuctzintli Vázquez Pérez
Cryptovision/ Eviden Digital Identity (Germany)
12:00
Is it Easy to Counterfeit?
Alex van Duuren
Ministry of Asylum and Migration, Immigration Naturalisation Services, Document and Identity Office (Netherlands)
12:20
Passport Fraud Trends
Pablo Jury
Thales on Behalf of Secure Identity Alliance (Chile)
12:40
NanoDOVIDs: The Way to go in the 21st Century
Robert Dvorak
IQ Structures (Czech Republic)
13:20 Q&A
13:30 Lunch
Crime Fighters – Battling Fraud and Counterfeiting
14:30
Research Results on Cataloguing Counterfeit Banknotes From Different Latin American Monetary Authorities
Karina Sepulveda Huerta
Argentina ()
14:50
Expansion of the Current Classification of US Dollar Counterfeits Towards a new Paradigm of Complex Crime Investigation
Analia Noemi Ojeda
SCOPOMETRIA de Policia Federal Argentina (Argentina)
15:30
Fraud Insights; Identity Fraud Report 2025
Simon Horswell
Entrust (UK)
15:50 Q&A
16:00 Closing Remaks and Farewell Cocktail Reception
Sponsors
Thank you to our 2025 Sponsors and Exhibitors
SICPA
Casa da Moeda do Brasil
IQ Structures / Hueck Folien
Blendpaper
Canadian Bank Note Company
CCL Secure
China Banknote Printing and Minting Corporation (CBPM)
De La Rue
Formas Inteligentes
Komori Corporation
Landqart
Oberthur Fiduciaire
OVD Kinegram / Leonhard KURZ
Security Fibres Ltd
SELP
Thales
Toppan Security
Veridos
Infineon
Jura / PARVIS
Luminescence Sun Chemical Security
Polish Security Printing Works (PWPW)
Angstrom Technologies
ANY Security Printing Company PLC
CETIS
Crime Science Technology
DASCOM
Drewsen Spezialpapiere
FNMT (Fabrica Nacional de Moneda y Timbre – Real Casa de la Moneda)
Foster + Freeman
INGroupe
Linxens
MaskTech / Melzer
Orell Fussli Security Printing / ZEISER
Regula Forensics
SPICA
SPM – Security Paper Mill
Stardust Secured
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