In order to anti-counterfeiting and anti-laundering, the European Central Bank (ECB) and Japanese government have disclosed plans to incorporate Radio Frequency ID (RFID) tags into Euro banknotes and Yan notes, respectively. At 2003, Ari Juels and Ravikanth Pap-Pu proposed a cryptographic banknote protection scheme in Euro RFID-enabled banknotes. But at 2004, Gildas Avoine introduced several attacks that can be performed on the Juels Pappu banknote protection scheme. However, Gildas Avoine does not propose any improved scheme. In the paper, we describe some privacy issues in RFID-enabled banknotes, and propose an improved privacy protection scheme.