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BANKNOTE VERIFICATION/TRACING SYSTEM, METHOD AND MOBILE APP

[Category : - Indentification and payment methods]
[Viewed 200 times]

This invention relates to a banknote verification/tracing system, method and mobile application. Violent crimes, such as the robberies of banks and cash-in transit vehicles, pose a major issue in many countries especially South Africa. These events can result in both physical and psychological harm to the victims involved due to their violent nature. Extortion through kidnapping, where a large amount of money is demanded for ransom, is other type of crime which is problematic. As a result, government and private companies have taken various measures to help prevent these crimes from taking place. However, although these measures may make it more difficult for criminals, it still does not provide an effective deterrent, since criminals believe that the financial reward for a successful robbery will be worth the extra effort. The ultimate objective of the above-mentioned crimes is to obtain a large number of banknotes ( e.g millions of Rands). Counterfeit money detectors and banknote counting devices can identify fake banknotes but they can do nothing about stolen, genuine banknotes without any dye stained ink on it. This patent alleviate at least some of the above-mentioned problems.

Patent publications:

ZA 201805200

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just7995 (South Africa)

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