Embossing in the transparent window area of polymer banknotes, such as those seen on the Australian, New Zealand and Romanian currencies, have enormous potential for the development of novel optical security devices. The intaglio printing process can provide an efficient means for embossing of optical security structures such as micro lenses. Embossed micro lens arrays in the transparent window of a polymer banknote can be folded over a corresponding printed image array elsewhere on the note to reveal a series of moire magnified images. Analysis of samples of embossed micro lenses showed that the engraving side and impression side had a similar embossed profile. The embossed micro lens profiles were modelled using Optalix-LX commercial optical ray tracing software in order to determine the focal length of the lenses and compare with the focal length of desired embossed lenses. A fundamental understanding of how the polymer deforms during the embossing process is critical towards developing a micro lens embossing tool which can achieve the desired embossed micro lenses. This work also looks at extending the early research of the Intaglio Research Group (IRG) to better understand the embossibility of polymer substrates such as biaxially oriented polypropylene (BOPP).