Device and method for preventing counterfeiting using a currency serial number reader

• US 7,567,698 B2
• Filed: 06/29/2007
• Issued: 07/28/2009
• Est. Priority Date: 06/29/2006
• Status: Expired due to Fees

• Current Assignee: iCVn, Inc., WP/MD, LLC
• Original Assignee: iCVn, Inc.
• Inventors: Paraskevakos, Theodore G.
• Primary Examiner(s): Werner; Brian P
• Assistant Examiner(s): WANG, CLAIRE X
• Application Number:
  US11/819,887
• Publication Number:
  US 20080037856A1
• Time in Patent Office: 760 Days
• Field of Search: 382/135, 382/136, 382/137, 382/138, 356/71
• US Class Current: 382/135
• CPC Class Codes: G06Q 10/00 Administration; Management
• CPC Class Codes: G07D 11/30 Tracking or tracing valuable papers or cassettes

Abstract

A device and method for reading and authenticating currency serial numbers to prevent counterfeiting and other money-related crime is provided. The device may be retrofitted to be installed in an existing money counting machine, and may read serial numbers of currency that passes through the counting machine. The serial numbers can be captured from stationary currency prior to entering the counting machine, and the serial numbers may be authenticated by comparing the number against various databases.

Claims

1. A method for identifying currency that has been used in unlawful activity, comprising:

obtaining an image of a currency document using a device coupled to a money-counting machine, wherein the device includes;

an entry stage that holds a plurality of stationary documents in a stack arrangement;

an image-capturing device having an image plane extending forwardly from the entry stage, the image-capturing device arranged such that a top or a bottom one of the plurality of stacked documents is visible in the image plane;

a rotating member coupled to the entry stage that retrieves one of the plurality of documents per rotation and guides the retrieved document into the counting machine; and

a synchronization mechanism that triggers the image-capturing device once per rotation of the rotating member, such that the image-capturing device captures an image of each document in the stack prior to the document passing into the counting machine;

capturing a serial number of the currency document from the obtained image using a microprocessor;

comparing the captured serial number against one or more lists of wanted serial number using the microprocessor; and

identifying the currency document as having been used in unlawful activity based on the comparison performed using the microprocessor.

2. The method of claim 1, further comprising associating the captured serial number with a tag, the tag including identification information relating to a money exchange transaction in which the currency document was used.

3. The method of claim 2, wherein the image is obtained and/or the serial number is captured when the money exchange transaction occurs.

4. The method of claim 3, wherein the money exchange transaction occurs at a retail point-of-sale.

5. The method of claim 3, wherein the money exchange transaction occurs at a gasoline station.

6. The method of claim 2, further comprising communicating the captured serial number to a financial institution.

7. The method of claim 6, wherein the image is obtained and/or the serial number is captured when the financial institution processes a deposit of the currency document.

8. The method of claim 1, further comprising:

communicating the captured serial number to a data repository for storage, wherein the data repository receives and stores captured serial numbers from a plurality of sources; and

analyzing the serial numbers stored in the data repository to identify duplicate serial numbers.

9. The method of claim 8, wherein the data repository further receives and stores the lists of wanted serial numbers.

10. The method of claim 1, wherein the image-capturing device comprises a camera.

11. The method of claim 1, wherein the image-capturing device obtains the image when the currency document is visible in a stationary position within the image plane.

12. The method of claim 11, wherein the currency document is in the stationary position at the entry stage of the device, prior to being counted in the counting machine.

13. The method of claim 11, wherein the currency document is stacked in a stationary position after passing through and being counted in the counting device machine.

14. A method for penetrating criminal networks, comprising:

adding a serial number of a currency document to one or more lists of wanted serial numbers stored in a data repository, wherein the currency document has been designated for use in an undercover operation for catching suspected criminals;

receiving data that includes the serial number and an associated tag identifying a money exchange transaction in which the currency document was used, wherein the data is received at a microprocessor from a first entity that obtained an image of the currency document using a device coupled to a money-counting machine, wherein the device includes;

an entry stage that holds a plurality of stationary documents in a stack arrangement;

an image-capturing device having an image plane extending forwardly from the entry stage, the image-capturing device arranged such that a top or a bottom one of the plurality of stacked documents is visible in the image plane;

a rotating member coupled to the entry stage that retrieves one of the plurality of documents per rotation and guides the retrieved document into the counting machine; and

a synchronization mechanism that triggers the image-capturing device once per rotation of the rotating member, such that the image-capturing device captures an image of each document in the stack prior to the document passing into the counting machine; and

identifying a second entity associated with the money exchange transaction as a suspected criminal using the microprocessor.

15. The method of claim 14, wherein the undercover operation includes a Trojan Horse scheme to penetrate a Hawala money laundering scheme, wherein penetration of the money laundering scheme includes:

scanning the currency document using the device to obtain an image of the serial number, wherein a first undercover agent delivers the scanned currency document to a suspected money launderer, and wherein the first undercover agent further arranges for the suspected money launderer to pay money to a second undercover agent.

16. A device for capturing an image of a stationary document prior to the document entering a money-counting machine coupled to the device, wherein the device comprises:

an entry stage that holds a plurality of stationary documents in a stack arrangement;

an image-capturing device having an image plane extending forwardly from the entry stage the image-capturing device arranged such that a top or a bottom one of the plurality of stacked documents is visible in the image plane;

a rotating member coupled to the entry stage that retrieves one of the plurality of documents per rotation and guides the retrieved document into the counting machine; and

a synchronization mechanism that triggers the image-capturing device once per rotation of the rotating member, such that the image-capturing device captures an image of each document in the stack prior to the document passing into the counting machine.

17. The device of claim 16, further comprising:

a light emitter that emits light for illuminating the top or the bottom one of the stacked stationary documents; and

an adjustment mechanism for adjusting the light emitted by the light emitter.

18. The device of claim 17, the light emitter device including one or more light emitting diodes.

19. The device of claim 18, wherein at least one of the light emitting diodes emit uniform, diffused light from a grounded tip.

20. The device of claim 17, wherein the light emitter emits light in an uneven pattern to compensate for a fisheye effect of the image-capturing device.

21. The device of claim 17, wherein adjusting the emitted light includes varying an intensity of the light emitted by the light emitter.

22. The device of claim 16, wherein the device is retrofitted to the money-counting machine.

23. The device of claim 16, wherein the entry stage includes an area through which one of the stacked documents can be viewed, the device further comprising:

a mirror arranged to reflect an image of the one of the stacked documents viewable through the area, wherein the image plane of the image-capturing device is directed at the mirror.

24. The device of claim 23, wherein the area through which the one of the stacked documents can be viewed includes a transparent window.

25. The device of claim 16, further comprising one or more transparent window covers for covering one or more optical elements.