According to the UN office on drugs and crime, the estimated amount of money laundered globally in one year is  2-5% of global GDP, or $800 billion – $2 trillion in current US dollars. Bulk currency is hard to distinguish from other organic objects on the x-ray image, for example a bar of soap, making it difficult for security operators to detect with currency technology .

To tackle the global issue of money laundering Smiths Detection, which specialises in threat detection and security screening technologies, has launched its latest automated detection algorithm; currency recognition software, iCMORE Currency.

The software is the latest addition to Smiths Detection’s family of automatic target recognition applications and can detect upward of 100 banknotes in US dollars, Euros and Saudi Riyal, rolled or stacked in hand luggage and daypacks. iCMORE Currency can be seamlessly integrated into Smiths Detection’s HI-SCAN technology to support customs and security operators at border crossings and airports, as well as at cross border railway stations, cruise lines and ports.

Cymoril Métivier, Digital Market Director, Smiths Detection said: “We are very pleased to announce iCMORE Currency, the latest round of enhancements for our HI-SCAN series. Money laundering is a global issue, it damages economies by removing money that would otherwise go towards tax and investment, fuels criminal activity and promotes the underground market for illicit goods and services. iCMORE Currency will be a vital tool in the ongoing fight against money laundering and equip customs operators with easily adaptable technology, within existing Smiths Detection scanning machines, across a wide variety of different scenarios, without compromising speed, efficiency or accuracy.”

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