Review on Detection of Fake Currency using Image processing Techniques

Many countries are affected by the matter of fake notes. Indian is one among them. With the improved technology, anyone can print fake notes. These notes are produced without legal sanction of the state and continues production of such kinds of notes can degrade countries economy. When such counterfeited notes are produced and circulated, it becomes impossible for ordinary citizens to distinguish whether the money is real or fake because they differentiate according to physical appearance. The biggest challenge for many countries like India is the detection of fake currency. Even if banks and other big organizations have automatic machines designed to identify counterfeit currency notes, ordinary people can hardly differentiate between them. Nowadays recognition of fake currency has become challenging issue for many researchers. The identification involves many steps like edge detection, feature extraction, image segmentation, image acquisition, grayscale conversion, and comparison of images. This paper provides some related works of paper-currency recognition and has explained the spread of various currency recognition systems. Choosing the right feature would improve overall system performance. The goal of this work is to review previous papers and literature, identify the benefits and disadvantages of every method.