Handheld device and a method for validating authenticity of banknotes

1. A handheld device for validation authenticity of a US Dollar banknote, said banknote comprising one or more printed elements printed with at least one security ink, the security ink having defined light reflecting properties, the device comprising:

a housing having an activation switch and an optical window that permits light passage therethrough, said window having an annular shape corresponding to at least one of said elements; and

an electronic assembly that can be activated by said switch housed with said housing and comprising

an illumination source configured to emit light with a wavelength spectrum such that when impinging on a surface on the banknote printed with said security ink it will result in reflection of light of an identifiable spectrum, wherein said illumination source comprises 8 light sources, 1 of which emits light at about 505 nm, 1 of which emits light at about 660 nm, 1 of which emits light at about 870 nm, 1 of which emits light at about 950 nm, 2 of which emit light at about 775 nm and 2 of which emit light at about 820 nm;

a light detecting utility configured to receive light entering into the housing of the device through said window and detect light of said identifiable spectrum at a plurality of specific wavelengths being of about 775 nm, about 820 nm, about 870 nm, about 660 nm, about 505 nm and about 950 nm;

wherein the reflected light is affected from the absorption features of said security ink and wherein said device is configured to:

(i) detect said reflected light at said plurality of specific wavelengths and calculate therefrom the corresponding absorption at said plurality of specific wavelengths;

(ii) calculate the relative absorptions between said plurality of specific wavelengths; and

(iii) compare said relative absorptions to predetermined reference values of one or more printed elements of an authentic US Dollar banknote; and

a signaling utility that is activated when said relative absorptions correlate with that of said predetermined reference values, the activation of the signaling utility being indicative of an authentic US Dollar banknote.

2. The device of claim 1 , adapted for validation of authenticity of a US Dollar banknote of more than one denomination.

3. The device of claim 1 , adapted for the validation of authenticity of a US Dollar banknote selected from the group consisting of 10 US Dollar banknote, 20 US Dollar banknote, 50 US Dollar banknote and 100 US Dollar banknote.

4. The device of claim 1 , wherein light sources are activated in a defined on/off sequence.

5. The device of claim 1 , wherein said light sources are operated in a sequential or concerted manner.

6. The device of claim 1 , wherein said light source is an LED.

7. The device of claim 1 , wherein said signaling utility is capable of outputting a visual indicator, an audio indicator or a combination thereof.

8. The device of claim 1 , wherein the electronic assembly switches off automatically following a defined time period after activation or after a defined time period of inactivity.

9. The device of claim 1 , wherein the device is a portable device.

10. The device of claim 1 , wherein the printed element is selected from the black United States Federal Reserve System seal, the green United States Department of the Treasury seal or both.

11. A method for using the device of claim 1 for validating the authenticity of a US Dollar banknote comprising one or more printed elements printed with at least one security ink, the security ink having defined light reflecting properties, the method comprises:

providing said device;

activating said device;

placing the window of said device over said one or more printed elements;

monitoring a signal outputted by said signaling utility and determining based thereon if the banknote is authentic.

12. The method of claim 11 , for validating the authenticity of:

a US Dollar banknote selected from the group consisting of 10 US Dollar banknote, 20 US Dollar banknote, 50 US Dollar banknote and 100 US Dollar banknote.

13. A kit comprising said device of claim 1 and instructions for use.