System and method for intelligent currency validation

• US 7,454,049 B2
• Filed: 04/21/2006
• Issued: 11/18/2008
• Est. Priority Date: 04/21/2005
• Status: Expired due to Fees

• Current Assignee: iCVn, Inc., WP/MD, LLC
• Original Assignee: iCVn, Inc.
• Inventors: Paraskevakos, Theodore G.
• Primary Examiner(s): Mariam; Daniel G
• Application Number:
  US11/407,962
• Publication Number:
  US 20070172106A1
• Time in Patent Office: 942 Days
• Field of Search: 382135-140, 382/209, 382/218, 382/306, 235/379, 902 7- 8, 902 10- 16, 902/18, 340/5.86, 340/5.9, 705 39- 40, 705 42- 44
• 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 device for validating currency, comprising:

an entry port through which currency is entered into the device;

an exit port through which currency is dispensed to a patron;

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

a memory coupled to the central processing unit that stores identifying information, including a serial number, of dispensed currency; and

a printer that prints a receipt for the patron, the receipt including the identifying information associated with the dispensed currency,

wherein the printed receipt is provided to the patron substantially concurrently with the dispensed currency.

2. The device recited in claim 1, wherein the scanner comprises a light for illuminating the currency to facilitate obtaining the image, wherein the illumination of the currency by the light is synchronized with the speed of the device so that the currency is properly illuminated.

3. The device recited in claim 2, wherein the currency is paused prior to the illumination of the currency.

4. The device recited in claim 1, wherein the software includes optical character recognition software.

5. The device of claim 4, wherein the optical character recognition software is designed in assembly language.

6. The device recited in claim 1, further comprising a communication port for communicating with a central database to obtain all or a portion of the list of identifying information that is stored in the memory.

7. The device recited in claim 1, wherein the device is an automatic teller machine for dispensing currency.

8. The device of claim 1, wherein the device further comprising:

at least one storing stock that stores the currency entered into the device, and the exit port that dispenses one or more of the scanned currency, one or more of a second currency different from the scanned currency, one or more of a ticket, one or more of a vended item, or one or more of a negotiable instrument.

9. The device of claim 1, wherein the device is an automatic teller machine for depositing or accepting currency.

10. The device of claim 1, wherein the device is an automatic teller machine for dispensing one or more of a negotiable instrument.

11. The device of claim 1, wherein the device is an automatic teller machine for depositing or accepting negotiable instruments.

12. A method for validating currency, comprising:

accepting currency through an entry port;

scanning the currency to obtain an image of the currency;

obtaining identifying information associated with the scanned currency from the image, wherein the identifying information includes a serial number associated with the scanned currency;

comparing the identifying information associated with the scanned currency with a previously stored list of identifying information;

providing a notification if there is a match between the identifying information associated with the scanned currency and the stored identifying information;

dispensing the scanned currency to a patron;

storing identifying information, including a serial number, corresponding to each bill of scanned currency dispensed to the patron;

printing a receipt, the receipt comprising the identifying information associated with the dispensed currency; and

providing the printed receipt to the patron substantially concurrently with the dispensed currency.

13. The method recited in claim 12, further comprising illuminating the currency to facilitate obtaining the image, wherein the illumination of the currency is synchronized with the speed of the device so that is currency is properly illuminated.

14. The method recited in claim 13, further comprising pausing the currency prior to illuminating the currency.

15. The method recited in claim 12, further comprising processing the image with optical character recognition software.

16. The method recited in claim 12, further comprising communicating with a central database to obtain all or a portion of the previously stored list of identifying information.

17. A method for dispensing currency to a user, comprising:

dispensing one or more bills of currency to a user;

storing a list of the one or more bills of currency dispensed to the user;

printing a receipt, the receipt including information uniquely identifying at least one or more bills of currency dispensed to the user;

providing the printed receipt to the user substantially concurrently with the dispensed currency; and

reimbursing the user if the one or more bills of currency dispensed to the user are lost or stolen using the information uniquely identifying each of the one or more bills of currency dispensed to the user.

18. A method for dispensing currency to a user, comprising:

dispensing one or more bills of currency to a user;

storing a list of the one or more bills of currency dispensed to the user;

printing a receipt, the receipt including information uniguely identifying at least one or more bills of currency dispensed to the user;

providing the printed receipt to the user substantially concurrently with the dispensed currency; and

removing at least one bill of the dispensed currency from a secure cash list based on the information uniquely identifying the at least one bill of the dispensed currency when the at least one bill of the dispensed currency is used at a currency terminal.

19. A method for dispensing currency to a user, comprising:

obtaining information uniquely identifying each of one or more bills of currency, including a serial number, associated with each bill of currency;

comparing the information uniquely identifying each of the one or more bills of currency for dispensing to the user with a previously stored list of one or more bills of currency, wherein the one or more bills of currency in the previously stored list are each associated with information uniquely identifying the bill and including a serial number;

providing a notification if there is a match between the one or more bills of currency for dispensing to the user and the previously stored list of one or more bills of currency

dispensing the one or more bills of currency to a user;

storing a list of the one or more bills of currency dispensed to the user;

printing a receipt, the receipt including information uniquely identifying the one or more bills of currency dispensed to the user; and

providing the printed receipt to the user substantially concurrently with the dispensed currency.

20. The method of claim 19, wherein obtaining information uniquely identifying each of the one or more bills of currency includes:

accepting the one or more bills of currency through an entry port;

scanning the one or more bills of currency to obtain one or more images of the one or more bills of currency; and

processing the one or more images to determine the information uniquely identifying each of the one or more bills of currency.

21. A method for validating currency, comprising:

accepting a first currency through an entry port;

scanning the first currency to obtain an image of the currency;

obtaining identifying information associated with the scanned first currency from the image, wherein the identifying information includes a serial number associated with the scanned first currency;

comparing the identifying information associated with the scanned first currency with a previously stored list of identifying information;

providing a notification if there is a match between the identifying information associated with the scanned first currency and the stored identifying information; and

dispensing one or more items, the one or more items comprising one or more of a second currency different from the scanned first currency;

printing the identifying information associated with the one or more of the second currency.

22. The method of claim 21, wherein dispensing one or more items further comprises dispensing:

the scanned first currency, one or more of a ticket, one or more of a vended item, or one or more of a negotiable instrument.

23. The method of claim 21, further comprising storing identifying information, including a serial number, corresponding to the one or more of the second currency.

24. The method of claim 21, further comprising communicating with a central database to obtain all or a portion of the previously stored list of identifying information.

25. The method of claim 21, further comprising printing the identifying information associated with the one or more of the scanned first currency.