Counterfeit Recognition of Pakistani Currency

Abstract

Forgery of currency is one of the major problems in money transactions all over the world. This is intended to exacerbate corruption and hindered the development and growth of the economy. As the resources for development are increasing in the present times, similarly, the sources of fraud are also increasing. Thus, making counterfeit notes have become even easier with the use of modern technology. Detecting and recognizing fake notes physically become a tedious and muddled practice hence there is a requirement for automatic techniques which perform the desired task more effectively.  Therefore, simple solutions are proposed for a novel application. The proposed methods are based on the automated environment framed in MATLAB which reduces human efforts and the probability of error as a result, the efficiency of identifying the falsification in the Pakistani currency is optimized. In these methods, the generalized parameters are used for identification which is recommended by the governed financial body of Pakistan. This work is achieved through image processing techniques that perform acquisition and characteristic extraction, followed by some straightforward algorithms that perform verification checks on banknotes to authenticate serial numbers, security threads, and picture watermarks. The simplicity of these algorithms allows for the processing to be done swiftly and efficiently. The idea of the paper is to develop a system that can not only recognize Pakistani notes but is also capable of detecting fake notes, separating the fake notes from the stack of money into its compartments, and displaying the number of fake notes.