I was recently working with a similar effect but with photoshop, there's many ways to get the same effect.
I used a plug-in called Engraver 3 which gives you that bank note look.
I had a very quick play with an image and I got something close and I think it's be closer with some noise added.
I just made the lines horizontal rather than wavy as there's pretty much infinite settings.
You can also image trace it in AI if you want vectors.
It's a paid for plug-in but there's some tut's on how to do it manually (I think on Chris Spooners blog). Try searching for "Bank Note, Spoon Blog" or "Photoshop, lines, video, effect"?