Pan-India fake currency network expands as new entry points emerge

New Delhi, March 27 (IANS) India’s security agencies have flagged the increasing number of entry points through which fake currency is being circulated in the market. At first fake currency was being pushed into Nepal from Pakistan before making its entry into India. However, with the Indian agencies stepping up vigilance at the Nepal border, the focus shifted to Malda in West Bengal. 

The National Investigation Agency (NIA), which is probing a majority of these cases, found that Malda had sophisticated printing units. They would source the material from Pakistan through the Bangladesh border and then print the fake notes before circulating them.

An Intelligence Bureau official says that at the moment, the number of areas from where this racket is being operated has increased. Murshidabad and Nadia in West Bengal, too, have become hot spots for this racket, the official said.

He further stated that the other main points where this racket is flourishing are Coastal Andhra, Tamil Nadu, Kerala, Gujarat, Delhi and Maharashtra.

In addition to West Bengal being the main supplier of fake currency, such notes are also originating from Dubai before they make their way into the South Indian states, the officials also added.

Another official said that the network is still controlled across India by the Dawood Ibrahim syndicate.

The ISI has instructed the syndicate to ramp up production and take a pan-India approach while running this racket, the official added. This explains why there are so many instances of fake currency rackets being busted across the country.

In addition to increasing entry points, the syndicate has also been relying heavily on social media to run this racket. For instance, in Malkapur, Maharashtra, the deals to trade in fake currency were struck on social media.

In addition to Malkapur in Maharashtra, Pune and Bhiwandi have also become major points where this trade takes place, an official said.

The official said that apart from using social media as a meeting point, these people are using technology heavily to further the trade. These people were found to be using Artificial Intelligence (AI) to gather more information to make the note look authentic.

AI was used to ask questions on how to print the notes correctly and how to avoid being caught by law enforcement agencies. Most of the material to print the fake notes is sourced from Pakistan.

The Pakistan Security Printing Corporation (PSPC), Karachi, has been the main source for the syndicate to procure the material.

Now, the syndicate is also procuring Chinese-sourced paper, which is another added headache for the agencies.

The printing and distribution of fake currency is part of an ISI strategy to hurt India economically. An official said it is clear that the ISI wants to expand this business and probably has a printing unit in every state.

For now, the distribution routes have been increased. The official adds that in addition to West Bengal, West Godavari and East Godavari in Andhra Pradesh have become a major hub for the circulation and distribution of fake currency. The notes that land in these areas are circulated only in the southern states.

This goes on to show that the syndicate is being region-specific. It is creating similar points for circulation and distribution in other regions as well.

This reduces the risk of getting busted as the transportation routes are shorter. Further, the syndicate does not want any interaction between the units in the various regions as more contact would mean that the chances of detection are high.

--IANS

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