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A Method to Detect and Prevent Proliferation of Counterfeit Currency

IP.com Disclosure Number: IPCOM000202357D
Publication Date: 2010-Dec-14
Document File: 3 page(s) / 137K

Publishing Venue

The IP.com Prior Art Database

Abstract

A method and system is disclosed for detecting and preventing proliferation of counterfeit currency.

This text was extracted from a PDF file.
This is the abbreviated version, containing approximately 54% of the total text.

Page 01 of 3

A Method to Detect and Prevent Proliferation of Counterfeit Currency

Disclosed is a method and system for detecting and preventing proliferation of counterfeit currency.

Currently, most countries associate a unique serial number to each currency bill. The method disclosed herein also generates a unique serial number for each currency bill as shown in fig. 2

(This page contains 00 pictures or other non-text object)

Figure 2

Once these currency bills are under circulation, the method also keeps track of current holders of each currency bills. In order to do so, the method associate each such unique serial number with a current owner (current holder of a current bill) and a previous owner. The method utilizes unique ID of each person for associating a currency bill with each user. A unique ID can be for example an ID provided by a government of a country to each person of the country. Fig. 2 shows such association in accordance with the method and system disclosed herein.

Other details

Figure 2

The system includes a plurality of point of information (PoI) devices. In accordance with the method disclsoed herein, a PoI device is used to detect a fake currency bill. Such

1

Bill ID

OAA108216:9845676465

OAA108218:9876543628

Current Owner

Previous Owner

SSN: yyy-yy-yyyy

ATM: ATWxxxxxxxx

SSN: xxx-xx-xxxx

OAA108217:6755467265

IFSC: yyyyyyyyyy

IFSC: xxxxxxxxxx



Page 02 of 3

PoI devices may be deployed within bank premises, and various ATM premises as shown in fig. 3

RBI

1000

1000

1000

1000

Point of Infiltration

1000

1000

1000

1000

System of Operation

FI (Bank, Treasury)

ATM

  Point of Infiltration

1000

1000

1000

1000

1000

1000

1000

1000

Po...