Counterfeit Currency Detection based on AI

Abstract

Abstract: The use of technology has grown tremendously within the few years it has made it easier to have access to advanced printing equipment in the industry which resulted in color printing of currencies to produce counterfeit notes across the country. To eliminate such unethical activities of printing counterfeit currency it is mandatory to make a system that detects the fake currency, In systems such as a money exchanger for example ATMs and vending machines, counterfeit currency notes must be detected beforehand exchanging process takes place. In the past, there have been similar systems developed based on methods such as image processing techniques that are done on the Matlab platform and other such platforms these methods possess some limitations including being less efficient and time-consuming. Our system is designed to eliminate all of the above problems through the use of deep learning techniques by detecting the features of currencies and determining whether its fake with a great accuracy rate. our proposed system verifies the Indian currency notes using Deep learning, deep learning helps in extracting meaningful information from the dataset fed into the machine using a set of methods to perform the classification of images. Our project makes use of the deep learning framework TensorFlow and its high-level API Keras which simplifies the creation of the model making it easier to achieve a less time-consuming and accurate model. Index Terms: Currency Detection, Deep Learning, Deep Neural Network, Convolution Neural Network