MT. PROSPECT, IL – Where there is a will, there is a way. Unfortunately, in the gaming industry, this adage is true for fraudulent activity that can negatively impact a casino. For this reason, fraud prevention measures can’t be ignored. Whether it’s deterring players on the gaming floor or employees throughout the property, casinos need to be cautious of this activity at all levels.
Surveillance is an ever-present fraud prevention technology in all of today’s casinos. However, as Cummins Allison – the leading innovator and provider of coin, currency and check handling solutions – explains, going beyond what can be picked up by a camera is critical when it comes to preventing fraud in cash management activities
Why Counterfeit Detection Matters Failing to address the potential for fraudulent notes can result in a loss to the casino and deteriorate the trust of patrons. For example, if counterfeit detection devices are not used at the note’s source of entry, then when these notes are identified later during the deposit preparation process or at the bank, it’s generally too late to trace them back to the source of origin. Even worse, these suspect notes may be recirculated within the casino, potentially damaging your reputation
Stopping Counterfeits Cold Including counterfeit note detection into all devices that accept cash is a technology need – not a want. The better the counterfeit detection, the better the fraud control. And, the sooner the counterfeit note is detected, the better the chances of finding and stopping the source.
It’s important to remember that counterfeit note detection does not have to be a disruption to operations or impedance to the player experience. In fact, the latest currency sorters and currency/check/ticket scanners are equipped with a wide range of counterfeit detection sensors that instantly identify counterfeit bills at the source of entry. This includes magnetic ink, fluorescence, ultraviolet, infrared and sensing technologies. Casinos can often select the level of counterfeit detection that’s right for their property – from basic up to the most advanced levels of detection available.
Serial Number Capture is Catching On Serial number capture is a brand new technology, and it’s gaining momentum due to its many uses and its non-invasive nature; which is why many of today’s advanced currency processing solutions include this capability. For example, if a casino is concerned about hindering the player experience with counterfeit detection devices, this technology can be used to capture the serial number of every note accepted at the cashier window, retail outlet or table game. These serial numbers are stored in a database for future reference and tracking.
Forward-thinking casinos are exploring other uses and benefits of serial number capture, such as:
• Tracking notes throughout the casino to better understand the flow of currency from one source to the next;
• Providing better accountability for Title 31 reporting;
• Identifying high-risk areas throughout the property, such as the high limit gaming areas;
• Linking transactions to originating parties to help mitigate risk; and
• Spotting trends of possible fraudulent activity in a proactive manner.
Serial number capture can also be beneficial when applied to employee activity. This includes reducing finger pointing and discrepancies by tracking notes from employees turning in their end banks and tracing notes going into and out of automated employee banks.
Investing in fraud detection technologies is critical to maintaining a casino’s operations. To learn more about the latest counterfeit detection technologies, listen to a new podcast, “Making the Case for Technology Investments”,presented by Curtis Hallowell, VP product management, Cummins Allison or visit www.cumminsallison.com/casino.
About Cummins Allison Cummins Allison is a global leader in developing technologies which count, sort and authenticate currency. The U.S.-based company has a 100+ year heritage of leadership in technology and product innovation and currently serves the majority of financial institutions worldwide, as well as leading organizations in retail, casinos, law enforcement and government.
The company holds more than 350 U.S. patents and has ongoing research and development (R&D) investments double the industry average. Cummins Allison is headquartered near Chicago, IL with R&D centers near San Diego, CA and Philadelphia, PA and wholly owned subsidiaries in Canada, the United Kingdom, Ireland, Germany and France. The company also has an extensive sales and service network with more than 50 offices in North America and is represented in over 70 countries. For more information, visit www.cumminsallison.com.