CURRENCY AUTHENTICATION USING MATLAB
Samit S. Shivadekar, Santoshkumar Nimbale, Yasir Ahmed, Sunny Erinjeri, Akash Venu · International Education and Research Journal · 2017
Counterfeit money is imitation currency produced without legal sanction of state or government. Producing or using this fake money is a form of fraud or forgery. Counterfeiting is as old as money itself, and is sufficiently prevalent throughout history that it has been called the world's second oldest profession.. This has led to increaseof corruption in our country hindering country’s growth. Common man became a scapegoat for fake currency circulation, let us suppose that a common man went to a bank to deposit money in bank but only to see that some of notes are fake, in this case he has to take blame. Counterfeiting, of whatever kind, may be that has been occurring ever since humans grasped concept of valuable items, and there has been an ongoing race between certifier like (banks, for example) and counterfeiter ever since. Some of effects that counterfeit money has on society include a reduction in value of real money; and inflation due to more money getting circulated in society or economy which in turn dampen our economy and growth - an unauthorized artificial increase in money supply; a decrease in acceptability of paper money; and losses. And this Some of methods to detect fake currency are water marking, optically variable ink, security thread, latent image, techniques like counterfeit detection pen and using MATLAB.