Verinote - Fake Currency Detection Using Convolutional Neural Network

Authors

  • Sreejit Nair B. Tech Student, Department of Computer Engineering, Pillai College of Engineering New Panvel, India. Author
  • Farhan Shaikh B. Tech Student, Department of Computer Engineering, Pillai College of Engineering New Panvel, India. Author
  • Elrich Thomas B. Tech Student, Department of Computer Engineering, Pillai College of Engineering New Panvel, India. Author
  • Mizan Shaikh B. Tech Student, Department of Computer Engineering, Pillai College of Engineering New Panvel, India. Author
  • Mrs. Priyanka Sherkhane Assistant Professor, Department of Computer Engineering, Pillai College of Engineering New Panvel, India. Author

DOI:

https://doi.org/10.47392/IRJAEH.2024.0205

Keywords:

Machine Learning, Image Processing, Financial Security, Counterfeit Money, Convolutional Neural Network (CNN)

Abstract

The proliferation of counterfeit money poses a significant threat to financial systems and economies worldwide. To solve this problem, advanced technological solutions have emerged, such as the counterfeit money detection system “FCDS”. The system leverages advanced image processing, machine learning and data analysis techniques to identify counterfeit bills accurately and effectively [1]. FCDS works by analyzing various security features found on legal tender, including watermarks, security chains, holograms and microprinting. Using image recognition and pattern analysis, the system distinguishes between real and fake money. Machine learning algorithms play a central role in training systems to recognize the subtle nuances that counterfeiters try to reproduce. FCDS can be deployed in a variety of contexts, from banks and financial institutions to retail businesses, providing a robust and scalable solution to combat counterfeiting [1]. By quickly identifying fraudulent notes, it helps prevent economic loss and maintain the integrity of financial transactions. This summary describes the nature of counterfeit currency detection systems and its importance in maintaining financial security and confidence. Its integration into modern banking and commerce systems represents an important step towards a counterfeit-proof financial ecosystem.

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Published

2024-05-24

How to Cite

Verinote - Fake Currency Detection Using Convolutional Neural Network. (2024). International Research Journal on Advanced Engineering Hub (IRJAEH), 2(05), 1484-1488. https://doi.org/10.47392/IRJAEH.2024.0205

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