Design and implementation of paper currency recognition with counterfeit detection

Abstract

Advancement of technology over the recent past has led to an increase in circulation of counterfeit notes in today's economy. To combat this issue, it is essential that there exists an efficient mechanism to detect fake banknotes. The main problem with current systems is the trade-off between speed and complexity. This paper proposes a system that can classify and subsequently verify Indian paper currency using fundamental image processing techniques. It uses the comparison between the input banknote and the calculated reference values for different parameters of original banknotes in a similar environment. This system maintains its simplicity while still having high accuracy of 100% for classification and 90% for validity verification.