Smiths Detection tackles money laundering with the iCMORE foreign exchange algorithm

(08 April 2022, 11:47 +07)
Smiths Detection’s latest automated detection algorithm was designed to spot currencies.

iCMORE Currency can detect up to 100 US Dollar, Euro and Saudi Riyal notes rolled up or stacked in carry-on luggage and backpacks.

According to the United Nations Office on Drugs and Crime, the estimated amount of money laundered globally in one year is 2-5% of global GDP, or US$800 billion to US$2 trillion currents.

Loose currency is difficult to distinguish from other organic objects on the X-ray image, for example a bar of soap, so it is extremely difficult for security operators to detect it with current technology.

Smiths Detection’s latest automated detection algorithm was designed to spot currencies

iCMORE Currency is available immediately and seamlessly integrated into HI-SCAN 6040aTiX, HI-SCAN 6046si, HI-SCAN 6040-2is, HI-SCAN 6040DV, HI-SCAN 7555si and HI-SCAN 7555aTiX and will support operators from customs and security at border crossings, airports, cross-border stations, cruise lines and ports.

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

Elsewhere in the iCMORE family, Smiths Detection has made iCMORE weapons available for its entire fleet of conventional X-ray detection systems (CXS) and explosives detection systems (EDS).

The iCMORE lithium battery application has also been extended to all HI-SCAN 100100 scanners – to include the HI-SCAN 100100V/T Single View System as well as the HI-SCAN 100100V/T-2is.

With these new apps, the company now has over 50 iCMORE unit-algorithm combinations available.

See also: Exclusive travel industry interview with Kurt Ekert, President of Saber.


Capital A partners with Google Cloud to develop super airasia app China Airlines upgrades in-flight entertainment with e-library service Malaysia Airlines expands partnership with Amadeus Qantas to launch flights from Sydney to India and South Korea; Codeshare with IndiGo Smiths Detection tackles money laundering with iCMORE Currency Algorithm SAS appoints Ann-Sofie Hörlin as Chief Sustainability Officer 45 Park Lane appoints Elliott Grover as Chief Executive Saab receives regulatory approval for provide UK Armed Forces with AirAsia X digital tower technology to expand network with flights to South Korea and India Cebu Pacific changes checked baggage policy Gathering Steam Air Travel; APAC Airlines Announces 144.4% Increase in Traffic Four Seasons Singapore appoints Tobias Emmer as Emirates Hotel Manager to resume flights to Bali, London Stansted, Rio de Janeiro and Buenos Aires Accor signs distribution agreement with Traveloka Global air freight growth continues in February Etihad Guest joins Miles on the move at Abu Dhabi Int. Centara Airport renews its 526-room hotel in Chiang Mai, Thailand eRoam Travel Technology becomes Saber Gold-level developer partner Emirates to launch two daily A380 flights to Mauritius Honeywell expands MRO services in Malaysia Eurowings takes on delivery of the first A320neo with Airspace Cabin Lobo LOI for 15 Nuuva V300 hVTOL aircraft from Pipistrel SAS launches recruitment process for new CCOs and CFOs Brazilian Army orders four Saber M60 radars Sleep at Old Trafford the night before Manchester United does Chelsea play in the EPL? Hilton signs first Waldorf Astoria hotel in Australia Qatar’s Chiva-Som wellness resort celebrates grand opening Sterling Holiday Resorts appoints Vikram Lalvani as Managing Director and CEO ALC confirms order for 32 Boeing 737s British Airways resumes flights international short-haul flights from London Gatwick Justin Koslowsky appointed Chief Executive of Way to Sea in New Orleans Sikorsky, Boeing expands Defiant team with six new suppliers Two resorts in Bali join Cross Collection Emirates expands use of ports of mobile check-in at DXB Qantas launches flights between Darwin and Dili, Timor-Leste airport Authority Hong Kong becomes sole shareholder of AsiaWorld-Expo Cebu Pacific operating 96% of pre-pandemic domestic capacity ASL Aviation Holdings orders ten Boeings 737-800 converted freighters VistaJet takes delivery of 10th Global 7500 Air France will operate 90% of pre-COVID19 capacity in summer 2 022 Outrigger takes over a luxury resort in the Maldives Etihad Airways adds the first A350-1000 to its Accor Exp ands Portfolio fleet in Australia through a major agreement with Salter Brothers Tickets for HSBC Singapore Rugby Sevens go on sale from April 3 Marriott unveils major expansion plans for Vietnam Thomas Cook India expands presence in Punjab with new Gold Circle partner outlet British Airways resumes flights between Singapore and Sydney Ovolo Appoints Dave Baswal as CEO Cathay Pacific Partners PolyU to Relaunch Cadet Pilot Training Program A380 Test Plane Completes First 100% SAF-Powered Flight Stephanie Pope Named President and CEO of Boeing Global Services AirAsia to Accelerate Outstanding Reimbursement Claims Shelley Perkins returns to Accor, SVP Talent and Culture – Pacific British Airways takes delivery of first batch of UK-produced SAF ME Increase L-LAX First China Airlines A321neo enters service IATA changes host country for 78th AGM and World Air Transport Summit WHO to establish Global Traditional Medicine Center in Gujarat, India HKIA begins audits airborne on third runway Delta takes delivery of first Airbus A321neo Four Seasons Hotel Seattle appoints Brian Doherty as executive chief Boeing and Airbus Helicopters to work together on Germany’s Malaysia Airlines H-47 Chinook to increase flights to the Australia, Thailand and the UK; Resume Indian services Melia Chiang Mai to celebrate grand opening on April 10 Hilton opens 50th Garden Inn hotel in Asia Pacific MTCO appoints Suvimol Thanasarakij as chief executive Finnair to operate more than 300 daily flights in summer 2022 American Airlines and JetBlue offer new benefits to FFP members Michelle McKinney Frymire appointed to US Travel and Tourism Advisory Board OPV trials prepare Airbus VSR700 for sea campaign with DGA and French Navy Emirates to launch two daily flights in A380 to Melbourne, Australia JW Marriott to enter luxury safari market in Masai Mara, Africa Sepang in talks to extend MotoGP contract until 2026 as Petronas becomes title sponsor Air New Zealand to launch flights to New York in September Simon Song returns to Four Seasons as Director of Food and Beverage Operations at Tianjin Textron to Acquire Electric Aircraft Company, Pipistrel Qatar Airways Privilege Club Adopts Avios as Rewards Currency Smiths Detection to Provide TSA with 47 CTX Explosives Detectors n Systems Travel Industry Interview with Saber Chairman Kurt Ekert Marriott Signs First Executive Apartments in Australia CWT Appoints Richard Saunders as Vice President, Global Partner Network Air Canada orders 26 Airbus A321XLR Mandarin Oriental to take over historic hotel in Cairo, Egypt AirAsia Aviation Group Names Dassault Board Confirms Dates for Maintenance Seminars and Falcon Operations in 2022 IATA Sets Industry Standard for Calculating Aviation Carbon Emissions Marriott to Open Seven Fairfield Hotels in Japan This Year Nichlas Maratos Joins Dusit as Vice President of Commercial Artotel Chosen to Manage Batuangus 369 at Bitung, North Sulawesi Cebu Pacific’s A330neos offers s enhanced cockpit communications from SITA and Inmarsat Yotel to open a 237-room hotel in Geneva, Switzerland HD Videos and Interviews HD Video Interview Podcasts RSS Feed Displays High Resolution Image Galleries Travel News Asia – Latest travel industry

About Ruben V. Albin

Check Also

Why Real Estate Investors Should Pay Attention to Currency Changes in Africa

The Zambian currency is currently listed as the best performing currency in the world and …