The above solutions cover the entire gamut from front-end teller counter solutions-Note Counting Machines,Fake Note Detectors, Currency Sorters to back end solutions like Counterfeit Traceability and Self Service Solutions like cash validators inside kiosks for cash collection and bulk cash deposition in Kiosks.
We believe that a multi-tier structure of dealing with fake currency at the front end counters and at the backend deployed in tandem with a set of interlinked processes as well as the deployment of Self Service Kiosks (equipped with cash validators that are able to carry out detection of fakes through multiple parameters)for cash deposits can provide a robust solution to combat the fake notes menace.
The Note Currency Sorters at the front end are able to authenticate, sort, verify and batch the notes, whereas the Enhanced Note Counting Machines can help in the capture images of notes and the note number, coupled with the photograph of the depositor. This is helpful in establishing traceability of fake notes and could lead to identifying sources based on frequency and volume of deposits. The database so generated can be also shared by multiple banks and provides user search keys that could valuable insights leading to apprehending habitual offenders.
Traceability-key to eradication of fake currencyIn the war against counterfeit currency certain process changes can ensure long term benefits in eliminating fake currency from its source. Traceability, holds the key to bring about action against perpetrators while protecting the innocent victims.
Banks follow an elaborate KYC(know your customer) system for opening of bank accounts. In the case of currency deposit a rudimentary change in process of capturing depositor ID at the time of deposit can be not only a prevention tool, but a traceability solution as well.
Technology today can enable the capture of a depositors photograph and link it to the note numbers that he is depositing. This can play a major role in separating the real offenders from innocent victims. A sample workflow is as under: