Detecting counterfeit-money using RFID-enabled mobile devices

RFID-tags are becoming very fashionable and attractive tools for banknotes authentication and identification. As they have a tiny microchip embedded with other functionalities that can be utilized for security defense. This chip functionality makes it possible to detect and prevent money counterfeiting. RFID-enabled notes can be easily tracked and verified by an authorized party. In this paper, we present a novel money counterfeit detection algorithm using an RFID-enabled smart phone. With the proposed algorithm, we can reduce the communication parties into two parties (i.e., regular user and monetary agency) unlike other presented schemes which involve the law enforcement agency, the central bank, and the merchant. Our system is based on a software application which users need to download to check counterfeit money through their smart phones. We investigate our proposal from the perspective of security and performance compared with other related algorithms.