Fake Currency Detection System – A Comprehensive

Review
Under The
Supervision of
Professor

Mr. Akhilesh Kumar Singh

Submitted By:
Hemant Chaudhary (21SCSE1180012)
Santrim Sharma (21SCSE1180259)
Satyam Nath Tiwari (21SCSE1180224)

Abstract literatures and identify the advantages and

The currency has a great meaning in everyday
life. Thus currency recognition has gained a great
interest for many researchers. The researchers
have suggested diverse approaches to improve
currency recognition. Based on strong literature
survey, image processing can be considered as the
most widespread and effective technique of
currency recognition. This paper introduces some
close related works of papercurrency recognition.
This paper has explained a variety of different
currency recognition systems. The applications
have used the power of computing to differentiate
between different types of currencies with the
appropriate layer. Choosing the proper feature
would improve overall system performance. The
main goal of this work is to compare previous
papers and literatures through reviews these
disadvantage for each method in these literatures.
The results were summarized in a comparison
table that presented different ways of reviewing
the technology used in image processing to
distinguish currency papers.Counterfeit notes are
one of the biggest problem occurring in cash
transactions.
I. THE MODEL ARCHITECTURE
This model we will build will use a grayscale
image, segmentation, and feature extraction. We
are going to use OpenCV in this project because
this library contains some of the pre-built
functions to work with images. To check whether
the currency is fake or real, we will take a real note
and a fake note as input an image in the system.
The input images given to the system will be
converted into grayscale images. We will use

XXX-X-XXXX-XXXX-X/XX/$XX.00 ©20XX IEEE

segmentation to segment out the image of Gandhi
Ji and the thin strip on the note.
The idea is that we will compare the real and fake
notes based on the image of Gandhi Ji and the thin
strip present on the image. We will compare the
image of Gandhi Ji and we will check whether the
number of lines in the thin strip is equal to the
number of lines in the thin strip.
The comparison of Gandhi Ji’s image is simple
because we just have to find a correlation between
two images using a correlation function. If the
result of the correlation function is greater than 0.5
then Gandhi Ji is legitimate and we will check for
a thin strip. Otherwise, the note is fake. Now the
main problem is to find the number of lines in thin
strips. For that, we will convert the image into
HSV(hue saturation value) image because it will
be easy that way. Then we will segment the image
to find the thin strip. After that, we will apply a
bwlabel function to find the number of connected
components i.e. the number of lines in the thin
strip.
In the end, we will just write small code to final
check whether the currency is fake or real.
NOTE: We have just used two features i.e. Gandhi
Ji image and thin strip. But there are a lot of other
things on a real note like a unique number, bleed
lines(using which a blind man can find what is the
value of the currency), etc. For improving the
model, you can try implementing these as
“OpenCV”. This library is mainly intended for
image processing, computer vision/graphics, and
machine learning fields. For this purpose, it
comprises nearly about 2000+ optimized
algorithms. Further, it supports various
programming languages such as Java, Python,
C++, etc. As a matter of fact, it can detect a human
face, handwriting, and other objects in
images/videos.By the by, it can process images
and videos to identify objects, faces, or even the
handwriting of a human. For advanced processing,
several packages like NumPy, matplot, etc. van be
incorporated. Overall, python enables to process of
OpenCV array structure for comprehensive
analysis. Further, it also allows working various
mathematical operations using vector points on
essential image patterns/features.Overall, currency
recognition using OpenCV python has notable
demand in the current research community..
ACKNOWLEDGMENTS
Technology is growing very fast these days.
Consequently, the banking sector is also getting
modern day by day. This brings a deep need for
automatic fake currency detection in automatic
teller machines and automatic goods seller
machines. Many researchers have been encouraged
to develop robust and efficient automatic currency
detection machines. An automatic machine that can
detect banknotes is now widely used in dispensers
of modern products like candies, soft drinks bottles
buses, es or railway tickets. The technology of
currency recognition basically aims for identifying
and extracting visible and invisible features of
currency notes. Until now, many techniques have
been proposed to identify the currency note. But the
best way is to use the visible features of the note.
For example, color and size. But this way is not
helpful if the note is dirty or torn. If a note is dirty,
its color characteristic is changed widely. So it is
important that how we extract the features of the
image of the currency note and apply the proper
algorithm to improve the accuracy to recognize the
note. With this Machine Learning Project, we will
be building a fake currency detection system for
detecting fake currency and real currency. In
today’s time, the production and circulation of
inauthentic currency notes have been increasingly
sophisticated. That’s why there needs to be a system
to check whether a currency is fake or real.
REFERENCES
1.https://ieeexplore.ieee.org/document/8777621
2.https://www.pantechelearning.com/product/currenc
y-detectionusing-machine-learning-opencv-and-
python/
3.https://www.researchgate.net/publication/32273873
1_Paper_Currency_Detection_based_Image_Process
ing_Techniques_A_revie
w_paper/link/5a6c4971a6fdcc317b15f4a9/download
4.https://github.com/aprameya2001/Fake-Currency-
Detection-System
5.https://www.jagranjosh.com/general-
knowledge/security-features-of-indian-currency-
notes-1531736583-1