Fake Indian Currency Notes Menace

[RPK]

fullstory

BSF seized fake Indian currency

Malda (WB), Nov 25 (PTI) BSF today seized fake Indian currency notes with the face value of Rs two lakh from a man in the border areas of Kaliachak police station in the district, police said.

Nazrul Sheikh, the accused, confessed that the fake currency had come from Bangladesh. BSF handed over the man to the police.

The notes were in the denomination of Rs 1,000.

 

[RAM]

For first time, India to name Pakistan in fake currency racket

NEW DELHI: With india having collected concrete evidence against Pakistan for allegedly printing and circulating fake Indian currency notes (FICNs), NewDelhi will for the first time name Islamabad at various international fora soon.

An official said: "India will first approach the Financial Action Task Force -- an inter-governmental body -- whose purpose is the development and promotion of national and international policies to combat money laundering and terror financing. Subsequently, the matter will be raised before world Bank ,IMF and INterpol

Government sources said that a detailed dossier was being prepared incorporating the findings of various agencies like CBI and NIA which had over the years collected evidence, on how the FICNs were being printed at Quetta in Balochistan using "sophisticated machines" and "currency papers" which are actually meant for printing Pakistani currency notes.

Some time ago, the NIA in the chargesheet in an FICN case of Mumbai had clearly hinted at Pakistan's hand in printing and circulation of fake Indian currency. The chargesheet had said: "After thoroughly examining the FICN, it can be concluded that the notes have been printed on highly sophisticated machines which a common man cannot acquire since such machines involve huge capital investment. The perfection of window and watermarks formation indicates the manufacture of FICN paper on regular currency making machines which can only be owned by a country/state."

The chargesheet also said: "The wilful circulation of such high quality FICN printed abroad and smuggled into the country with the intent to threaten the economic security and sovereignty of India, therefore, tantamounts to a terrorist act committed to cause damage and destruction of India's legal tender and monetary system, thereby impeding the economic security of India."

Besides, the security agencies in India recently intercepted conversation between some Pakistani officials and their Indian agents which suggested that FICNs worth Rs 40 crore was ready to be sent to India. Only recently, the CBI had busted a racket by arresting seven persons in Delhi, Haryana, Bihar and West Bengal. Fake currency notes worth Rs one crore -- mostly in denomination of Rs 500 and Rs 100 -- were recovered from their possession.

"This gang had got all the FICNs from Pakistan. Forensic examination of the seized currency notes suggest that the paper used for the purpose was the one which was actually meant for printing Pakistan's currency," said a senior official.

It is suspected that Pakistan might have imported currency paper from European countries beyond its requirement and subsequently diverted it to print FICNs. The agencies here have found that while the FICNs are printed using Pakistan state agencies, these are being circulated through the underworld network of Dawood Ibrahim and his henchmen in West Asian and South-East Asian countries.

The FICNs seized in the recent past, officials said, showed that these notes were brought in by agents from Pakistan via Bangladesh, Nepal, Bangkok, Colombo, Dubai and sometimes Kuala Lumpur.

Read more: For first time, India to name Pakistan in fake currency racket - The Times of India http://timesofindia.indiatimes.com/...-racket/articleshow/6931294.cms#ixzz15O3OxQtf​

 

[gogbot]

What difference will it make.
We all know what they are doing on the other side of the border.

if we can't stop active terrorism. How much better can be do against Counterfeiting.

If they really want to stop counterfeiting , introduce those plastic notes.
100's of presses will be useless instantly and the difficulty at making the plastic note and infrastructure to set it up will deter many.

 

[Tshering22]

Apart form introducing non-paper (mixed material) notes, I think India should start printing Pakistani currency and circulate it in Pakistan till they're reduced to $1 = 500 of their rupees. Then they will have to beg us to stop our form of war. They use terrorism; we must use sabotage, economic attacks, trade attacks etc "soft" methods that actually have bigger effect on the enemy.

 

[The Messiah]

Just stop aid they get and they will starve to death.

They are just like begger on red light who lives on alms given to them.

 

[RAM]

India Making Move to Polymer

By Kerry Rodgers, World Coin News
October 25, 2010
The Reserve Bank of India has announced that it will be replacing its current generation of rag-paper rupee notes with polymer, bringing to an end the era of partially torn, mutilated currency that has bedeviled the country. Anyone who has ever lived and worked in a tropical clime will know all too well that paper currency is not compatible with elevated humidities.


The first notes to be released will be the Rs 10 possibly by the year's end. These will be followed in turn by the Rs 20 and Rs 50 denominations. In 2009 a pilot launch was planned of the Rs 10 denomination on a trial basis in five cities. This never occurred and the authorities look set to go nationwide this year with 1 billion Rs 10 being printed.

Apart from their durability and enhanced cleanliness, the RBI has been promoting the security features that can be incorporated in modern plastic issues and that help frustrate counterfeiters. Earlier this year the RBI had reported fake notes as accounting for eight per one million notes in circulation during 2008-09.

The Aug. 10 media release also included a proposal to replace the Rs 5 note with a coin. Problems have arisen in a number of countries where low denomination notes have been replaced by metal coins that lack substantial security measures. The coins have such low metal value that forging them on a large scale returns a handsome profit. As a result, Britain now has an enormous problem with its pound coin. In 2005 South Africa has had to withdraw and re-mint its five rand. All of which suggests problems might lie in store for India.

Although India could have imported the new plastic currency from specialist printers such as in Australia or Mexico, the Reverse Bank of India has taken the step of producing these internally.

There has been talk of incorporating the new rupee symbol on the new notes that resulted from a nationwide competition. As of July no firm decision had been taken with the RBI still in discussions with the government on this matter. Nonetheless it appears highly likely.

http://www.numismaster.com/ta/numis/Article.jsp?ad=article&ArticleId=15106

 

[Tshering22]

Just stop aid they get and they will starve to death.

They are just like begger on red light who lives on alms given to them.

That tactic won't work here Ernesto. We must remember that Pakistan doesn't have aid just from USA but also from Saudi and other Islamic countries that treat it like their junkyard. While we might be noting the USAID to be most high profile, but mostly the non-military and at times clandestine aid goes from Saudi to Pakistan a lot. Many strategic reports have recently revealed that Saudi Arabia has a considerable stake at Pakistani nuclear weapons and therefore will dole out enough money to make sure that the royals retain control of the weapons in the same way as before. While Pakistan has no credibility to be pan-Islamic saviour by the larger world, it has sworn top loyalty to Saudis due to their religious obsession to the extent that an elite team of SSG Pakistani commandos are deployed to protect Saudi royal families.

Even if US stops aid, there might be a stop on Western weapons but still Pakistan will get enough money in "bheekh" to survive and China will do its nut to keep Pakistan afloat to challenge us. Remember that Pakistan's demise is the biggest loss for Chinese for now since once it is done for, our attention would turn to Chinese and they will have to slow down their development and it would become a scenario like early 50s of USA and USSR-- only this time they would be neighbours. China has too much money at stake in Pakistani infrastructure. Gwadar is simply the cherry on the cake; today almost everything from mining, engineering, construction, infrastructure, etc is Chinese and Arab investment. While Arabs are too lost in their oil money, Chinese are more strategic and therefore will think 10 times before letting Pakistan sink. What's more, POK without Pakistan will be simply a cakewalk for Indian Army to go and take it with anytime and this would mean end to Chinese dreams of connecting via road to middle east, which is why PLA troops are in POK these days.

The era of US and NATO aiding Pakistan against us is long gone since 2001; however new rescuers have emerged for the failed state against us and this is where we need to make sure that no more "helpers" come out. Even if US and NATO back out, China, Saudi and other similar nations would do their nut to at least keep Pakistan afloat.

 

[nitesh]

This is another proof of state policy of terror, the state owned press is printing fake Indian currency

http://epaper.dnaindia.com/epaperpdf/21072011/20main edition-pg3-0.pdf

 

[nitesh]

This is another proof of state policy of terror, the state owned press is printing fake Indian currency

http://epaper.dnaindia.com/epaperpdf/21072011/20main edition-pg3-0.pdf

 

[Galaxy]

Pak female held with 48 lakh fake Indian currencies

Pak female held with 48 lakh fake Indian currencies


Dhaka, Oct 20 (UNB) - A Pakistani woman was arrested at the airport here early Thursday with huge fake Indian currencies as Bangladesh is being used as a route to smuggle out fake currencies to neighbouring countries, especially India.

A team of the Detective Branch of Police arrested Shamim Naj, 47, a Pakistani female, from the canopy No-1 of the Hazrat Shahjalal International Airport.

During preliminary interrogation, Naj revealed that huge Indian Rupee is printed in Pakistan and then sent to Bangladesh via Dubai or other third countries. Later, most of the consignments have been smuggled out to India, according to DB officials.

Tipped off that a Pakistani woman would come from Dubai with huge quantity of fake Indian currency, a team of DB police was on alert at the canopy-1 of the airport.

The team challenged Shamim Naj, searched her hand language and recovered the fake currency of 48 lakh Indian rupee.

Later, briefing reporters at DB's Minto Road office, Deputy Commissioner (DB-South) Monirul Islam said Shamim Naj is an active member of international fake currency smuggling syndicate. She had been in Bangladesh several times earlier with fake currencies and smuggled those out to India, he said.

The DC said the syndicate members had earlier come to Bangladesh from Karachi directly. But now they have been here from Pakistan via a Middle East country. "We got several names, including her husband, now in Bangladesh. We're trying to trace those culprits out."

He said the detectives recovered fake currencies around Tk 2 crore and arrested several people from Dhaka city recently.

The Detective Branch has intensified its anti-fake currency drive to check the circulation and printing of fake currencies in the country.

Replying to a question about foreign nationals who used Bangladesh as a destination or route to circulate fake currencies, DC Monir said, "We've already requested authorities concerned to be careful about the entry of foreign nationals who have no specific profession.

 

[A chauhan]

Good news ! I want to see how far the state of Pakistan is officially involved in this fake currency conspiracy against India. If it proves that these fake currencies are printed in official currency printing presses of Pakistan then we'll have another issue to be raised.

 

[Dovah]

That's the concept of a modern age working woman in Pakistan...lol.

 

[agentperry]

why not internationalize this news to reciprocate the pakistani gesture. they always try to get attention of world at slightest and insignificant provocation / mistake by India and now when they are in loop we should reap the benefit.

moreover thank to bd for co-operating and not allowing the thugs to enter India.

 

[Adux]

Question is why isnt Indian Government making fake pakistani ruppee's

 

[Yusuf]

Pakistan sending counterfeit currency through Southeast Asia

NEWS DELHI: A recent bust of a fake Indian currency note (FICN) racket in Nepal has become a cause for concern for Indian intelligence agencies, revealing that Pakistan is pumping in counterfeit currency through Southeast Asian countries like Vietnam, Malaysia and Indonesia rather than the traditional routes of Bangladesh and Dubai.

As part of the tactical switch, Pakistan is also using nationals of the South-east Asian countries to avoid detection. As always, the plot for India's economic subversion is being executed through Mumbai underworld.

On Tuesday, acting on the inputs provided by India, the Nepal Police arrested a Vietnamese woman with FICN worth Rs 98 lakh at Tribhuwan International Airport in Kathmandu. The consignment - neatly stuffed in high-end liquor bottles - was delivered to her at Vietnam by conduits working for Pakistani handlers.

The consignment was so smartly concealed that it would have gone unnoticed had it not been for specific information provided by India.

The accused, whose name has been withheld by the agency as investigations are still on, had stuffed the currency notes in liquor bottles and packed them neatly in her check-in baggage. To avoid scrutiny she had paid legitimate duty on the liquor.

Sources in intelligence agencies here said the woman took a flight from Vietnam and reached Kathmandu via Bangkok. Her arrest has not only revealed a new modus operandi, but also a new route (Pakistan to Nepal via Vietnam) of pumping FICN into India.

Sources said the consignment was routed through Vietnam as traditional FICN-pumping routes like Bangladesh and Dubai are always on security agencies' radar for. "There is greater screening of passengers coming via Dubai or Bangladesh. One would generally not suspect a Vietnamese coming from her country to be carrying fake currency," said an Intelligence official.

The case has also indicated that Pakistan may be using underworld links to pump in money as several dons from Mumbai are now holed up in various South-east Asian nations. Even Dawood Ibrahim has a wide network of operatives spanning Malaysia, Indonesia, Thailand and Vietnam. Sitting in Karachi, he controls a major share of over $2.5 million FICN racket in India. Sources said the notes are of very high quality, and match with other consignments coming from Pakistan seized earlier.

A senior intelligence official said, "Counterfeiters keep reinventing themselves. The racket had deliberately used a woman as a carrier to avoid suspicion. For instance, the Vietnamese woman had stuffed high-end liquor bottles with FICN and neatly packed them. She then paid the required duty on it which made it a legitimate consignment. That is why despite the consignment being in her check-in baggage no one in Vietnam or in Bangkok suspected anything amiss with her luggage."

The official added, "Recently agencies busted a racket in which fake currency was concealed in cigarettes. The accused had removed tobacco and rolled notes into the empty space."


http://m.timesofindia.com/PDATOI/articleshow/12553413.cms

 

[Yusuf]

They should consider printing their own original currency and distributing it so that the don't have to beg. They are spending more resources in trying to destroy India and failing than spending on developing their own country and succeeding!

 

[sehwag1830]

They should consider printing their own original currency and distributing it so that the don't have to beg. They are spending more resources in trying to destroy India and failing than spending on developing their own country and succeeding!

What stops us from printing their currency ? Send already trash pakistani rupee to zimbabwian currency way.

 

[Yusuf]

What stops us from printing their currency ? Send already trash pakistani rupee to zimbabwian currency way.

We have better things to do.

 

[hit&run]

During my recent visit to India I saw a great awareness among businesses religiously checking notes specially 500 and 1000s. I think its very very difficult for thugs to use fake notes in India now.

I think India should start printing plastic notes.

Also banking in India is a luxury of few, which is another reason of fake note being easily pushed into markets. Though things might be improving with more use of plastic/electronic money but it has be made more user friendly (Buyer and Seller). In AU and NZ we rarely see/touch bills, to be honest I can not describe how NZ currency of different notes look like.

 

[ejazr]

^^^Seriously, why hasn't RBI looked at plastic polymer note technology till now? Within 5-10 years we can replace all currency with plastic polymer notes and then these FICN rackets will be history.

Even Bangladesh now has plastic polymer notes for heavens' sake. Why can't we look into the same?

Its silly that we are still playing cat and mouse with FICN rackets through Pakistan.