Does Banknote Quality Affect Counterfeit Detection? Experimental Evidence from Germany and the Netherlands

Horst, Frank van der; Eschelbach, Martina; Sieber, Susann; Miedema, Jelle

doi:10.2139/ssrn.2797078

Cited by 4 publications

(2 citation statements)

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“…On the contrary, a public person receives few banknotes per day, maybe no more than one or two. He/she has poor qualitative knowledge of the security features [26], [27], but the time that he/she can spend for verification is relative high, e.g., 5 seconds [3].…”

Section: Application Scenariosmentioning

confidence: 99%

Banknote Identification Through Unique Fluorescent Properties

Ferrero

Montrucchio

2024

IEEE Trans. Dependable and Secure Comput.

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The use of printed banknotes is widespread despite cashless payment methods: for example, more than 27 billion euro banknotes are currently in circulation, and this amount is constantly increasing. Unfortunately, many false banknotes are in circulation, too. Central banks worlwide are continuously striving to reduce the counterfeiting. To fight against the criminal practice, a range of security features are added to banknotes, such as watermarks, micro-printing, holograms, and embossed characters. Beside these well-known characteristics, the colored fibers inside every banknote have strong potential as a security feature, but have so far been poorly exploited. The mere presence of colored fibers does not guarantee the banknote genuineness, as they can be drawn or printed by counterfeiters. However, their random position can be exploited to uniquely identify the banknote. This paper presents a technique for automatically recognizing fibers and efficiently storing their positions, considering realistic application scenarios. The classification accuracy and fault tolerance of the proposed method are theoretically demonstrated, thus showing its applicability regardless of banknote wear or any implementation issue. This is a major advantage with respect to state-of-the-art anti-counterfeit approaches. The proposed security method is strictly topical, as the European Central Bank plans to redesign euro banknotes by 2024.

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Section: Application Scenariosmentioning

confidence: 99%

Banknote Identification Through Unique Fluorescent Properties

Ferrero

Montrucchio

2024

IEEE Trans. Dependable and Secure Comput.

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“…Indeed, if the detection of counterfeit banknotes requires the processing of specific details, we would expect that a longer exposure duration would greatly improve performance. As an upper limit we used an exposure duration of 10,000 ms, as it was previously shown that the hit rate in detecting a counterfeit does not increase beyond an exposure duration of ten seconds (Van der Horst et al, 2016).…”

Section: About Timementioning

confidence: 99%

Banknote Verification Relies on Vision, Feel and a Single Second

Horst¹,

Miedema²,

Snell³

et al. 2020

SSRN Journal

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Banknote Counterfeiting Phenomenon in Poland

Lewandowski

2020

Eur.J. Crime Crim. Law Justice

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The paper presents the phenomenon of banknote counterfeiting in Poland and a selection of methods used against this type of crime. It shows that the number of counterfeit banknotes in Poland is much lower than in the eurozone countries. Moreover, a share of counterfeit Polish zloty banknotes significantly dropped in 2011 to the level of 7.6 ppm and between 2015–2018 to the level of 2.6–2.7 ppm. This decline can be associated with increased law enforcement (elimination of a large criminal group of counterfeiters in 2001) and the Polish zloty banknotes upgrade in 2014 and 2016, which introduced a set of new security features further discussed in this paper. This leads to the conclusion that regular currency modernization, introducing new security features as well as law enforcement activities are an effective anti-counterfeit method.

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Does Banknote Quality Affect Counterfeit Detection? Experimental Evidence from Germany and the Netherlands

Cited by 4 publications

References 4 publications

Banknote Identification Through Unique Fluorescent Properties

Banknote Identification Through Unique Fluorescent Properties

Banknote Verification Relies on Vision, Feel and a Single Second

Banknote Counterfeiting Phenomenon in Poland

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