Abstract
A large number of counterfeit banknotes have been found around the world. Every possible effort must therefore be made to prevent counterfeit banknotes. We focus on NFC technology as a new countermeasure against these threats. A banknote-authentication system using NFC-tags and smartphones called a “smart-banknote system”-was developed. The smart-banknote system has three anti-counterfeiting functions, and distinguishes legitimate banknotes from counterfeit ones. The effectiveness of the system was evaluated by fault tree analysis and flow model analysis. The evaluation shows the smart-banknote system is most effective against low-level counterfeiters and is reasonably effective against high-level counterfeiters. In this paper, we report a summary of the smart-banknote system and an evaluation of the effectiveness of the system.
