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Casino Chips could Lead to Traceable Cash

7 January 2004

UNITED KINGDOM – As reported by Reuters: "New casino chips with built-in radio identification tags may pave the way for traceable banknotes, boosting efforts to beat fraud, New Scientist Magazine said on Wednesday.

"A radio frequency identification tag (RFID) in the chips will enable casinos to spot counterfeits and monitor the behaviour of gamblers, allowing them to check that big winners are not cheating the house.

"…If the technology can be transferred to notes, banks and stores will easily be able to check that money is not counterfeit…"

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