Machine Learning Methods Analysis for Indian Currency Counterfeiting

Imitation of currency made with the intention of misleading people is referred to as counterfeit money. One of the risks that harms a country's economy and so slows global growth is counterfeit money. Producing counterfeit money or creating false features for currency is illegal activity, which needs to be properly analysed. Demonetization resulted in an unexpected inflow of fake currency into banks, which in turn lead an increase in doubtful activities. The review focused on the methodology used to detect counterfeit currency, as well as the success rate of each method. Numerous fake currency detection strategies offered by different researchers are presented in the study. This paper discusses the challenge of determining whether or not a particular sample of cash is fake or real. There are various conventional strategies and methods to detect illegal currency based on the basic features like colors, width, and serial numbers specified on the currency. As per the comparative survey analysis KNN and regression methods will give good accuracy for identifying the fake currency