SYSTEM AND METHOD FOR INTELLIGENT CURRENCY VALIDATION

• US 20090148027A1
• Filed: 11/17/2008
• Published: 06/11/2009
• Est. Priority Date: 04/21/2005
• Status: Active Grant

• Current Assignee: iCVn, Inc., WP/MD, LLC
• Original Assignee: iCVn, Inc.
• Inventors: PARASKEVAKOS, THEODORE G.
• Granted Patent: US 7,724,938 B2
• Time in Patent Office: Days
• US Class Current: 382/135
• CPC Class Codes: G06V 2201/01 Solutions for problems related to non-uniform document background
• CPC Class Codes: G06V 30/10 Character recognition
• CPC Class Codes: G06V 30/162 Quantising the image signal
• CPC Class Codes: G06V 30/2504 Coarse or fine approaches, e.g. resolution of ambiguities or multiscale approaches
• CPC Class Codes: G07D 11/0087 Banknote changing devices
• CPC Class Codes: G07D 11/30 Tracking or tracing valuable papers or cassettes
• CPC Class Codes: G07D 7/004 using digital security elements, e.g. information coded on a magnetic thread or strip
• CPC Class Codes: G07G 1/0018 Constructional details, e.g. of drawer, printing means, input means

Abstract

Currency is validated by comparing identifying information extracted from the currency, such as a serial number associated with the currency, to identifying information in a list corresponding to invalid currency, such as counterfeit currency. If the extracted identifying information matches identifying information on the list, the currency is deemed invalid. A photograph or thumbprint image can be obtained by a person using the invalid currency to help in later identification of that individual. Optical character recognition techniques can be used to extract the identifying information.

Claims

1. A handheld device for validating currency, comprising:

a scanner for scanning a currency to obtain an image of the currency;

a central processing unit;

a memory coupled to the central processing unit in which a list of identifying information is stored;

software for obtaining identifying information associated with the currency from the image, for comparing the identifying information associated with the currency to the stored identifying information, and for causing a notification is there is a match between the identifying information associated with the currency and the stored identifying information, wherein the identifying information associated with the currency includes a serial number;

a memory coupled to the central processing unit that stores the obtained identifying information, including the serial number, associated with the currency;

a network interface that connects the device to a network for transmitting the obtained identifying information to a remote server and obtaining all or a portion of the stored list of identifying information; and

wherein the components of the handheld device are enclosed and/or incorporated in a handheld housing.

2. The handheld device of claim 1, wherein the handheld housing further comprising:

a card reader that reads credit cards; and

a second reader that reads human-readable numbers or alphanumeric characters.

3. The handheld device of claim 1, wherein the network interface connects the device to a wired or wireless network.

4. The handheld device of claim 1, further comprising:

a keyboard that allows selection of the currency type.

5. The handheld device of claim 1, further comprising:

a readout display that displays the obtained identifying information associated with the currency being scanned.

6. The handheld device of claim 1, wherein the software includes optical character recognition software.

7. The handheld device of claim 1, further comprising:

a real-time clock that records a time of scanning of the currency.