We talked about remote cash deposit systems and laser drilling devices. Next on the list of Kotiyak Vatina Adahasak(KVA) finalists is the team behind the Advanced Forged Document/Currency Detector. Meet team Sure Cash.
“Counterfeit money found”
It’s a headline that makes the news often. When it does, the news is sure to follow with a big figure attached to it. True that there are procedures and protocols set in place to assure these incidents are avoided, or at least minimized. This includes having the necessary machinery to detect counterfeits. There lies part of the problem. When it comes to detecting forged documents/counterfeit money, there are 29 security features that are looked at.
According to Asiri De Silva and his team, Sri Lanka employs only one of these features, Ultra Violet(UV) rays for detecting counterfeits. To highlight the issue further, the team went on to explain that recent currency notes in Sri Lanka started using Infrared(IR) signatures, but the lack of proper equipment for identification renders the feature obsolete. While there are certain tools that include IR, these tools can only measure the thickness of a currency and not the IR signature itself.
To be clear though, having 29 security features doesn’t exactly make it a necessity to include all these features in currency. Of course, having more features always help. But only if you have the right tools to identify them. That’s where Sure Cash comes in.
Sure Cash: Be Secured From Counterfeits
You might ask, aren’t there equipment already on the market that can detect counterfeits? Well, as it turns out not every feature. By that what I mean is that you can get equipment specializing in detecting one specific security feature(or two), but not all 29. With Asiri’s innovation, one is able to identify all 29 security features. Adding on, the Sure Cash device is also mobile. This makes it much easier as compared to the bulky alternatives.
A Closer Look at Sure Cash
Talking about the device itself, Sure Cash includes 6 main modes.
- UV Mode – This is where UV markings of a currency can be detected
- Infrared(IR) Mode – This mode is used to identify IR signatures
- White Light Mode – Identifies any type of micro printing as well as alterations in currency notes
- Manual Mode – Allows the user to safely check for UV markings on the currency notes manually
- Green Light Mode – Allows users to view security features on currency printed on a green background
- Red Light Mode – Allows users to view security features on currency printed on a red background
With these 6 modes, the user would be able to detect all the 29 features via the device. Apart from these 6 modes, Sure Cash comes equipped with a safety feature that prevents the user being exposed to UV light. Additionally, this also gives Sure Cash the capability to detect forged ID documents such as the National ID, Passport, Driver’s License, etc.
All this sounds promising, but how much would a device be if you were to buy one? Well, the product is still commercially unavailable. Nevertheless, the team plan on pricing the product at just Rs. 36,000. To put things into perspective, alternative product prices range from Rs 1.2 million to as high as Rs. 12 million. That’s quite a difference, considering the alternatives don’t test all 29 features.
As of now, the team wants to successfully launch it in the island. Currently, they’re in discussions with the Central Bank of Sri Lanka(CBSL) as well as a few banks and financial institutions on going ahead with Sure Cash. With regards to regulations, the team claims the product to be compliant with the currency division of the CBSL.
The team also stated that moving forward, they plan on launching Sure Cash on an international scale. Specific target markets would include countries like India and China, and yes, eventually world domination.