CHALLENGES IN INDIAN CURRENCY DENOMINATION RECOGNITION & AUTHENTICATION

Syed Ejaz Ali, MrigankaGogoi, Subra Mukherjee

Abstract: Automatic currency recognition and authentication has become an impending challenge today particularly because of the prevailing fraudulent activities as it hampers our economy. According to the RBI report 435,607 fake notes has been detected in year 2010-2011 and the number is only increasing with technological advancements in the field of printing. Image processing techniques such as texture based, pattern or color based, character recognition etc using different operator or tools such as Prewitt or Sobel or Canny edge detector, ANN, heuristic analysis, SVM etc are commonly used for recognition and authentication of paper currency note. Despite several researches it still remains an open challenge. This paper intends to present an extensive survey of the recent technological trends in recognition and authentication of paper currency note while identifying the various challenges.

Keywords: Currency recognition, Currency Authentication, feature extraction,Currency Authentication and Recognition System (CARS)

DOI: https://doi.org/10.15623/ijret.2014.0311082