NEW DELHI: Delhi Police has received complaints from several banks that they received fake currency Indian notes (FICN) with a face value of over Rs 54 lakh between July and Dec last year.
According to officials, the Reserve Bank of India and 15 other banks filed the complaints. The highest face value of fake notes — Rs 16.3 lakh —was received at a private bank, followed by another private bank that received Rs 15.7 lakh in fake notes. These notes were primarily in the denomination of Rs 500.
Police said they were trying to find out the source of these notes. “We suspect that the accused could have placed counterfeit notes in the middle of genuine bills while depositing money, allowing them to go undetected,” an officer said, adding that a case under Section 489C (possession of forged or counterfeit currency notes or bank notes) of IPC was registered at Parliament Street police station.
Investigators say fake notes are smuggled into the country through neighboring countries with porous borders. “The accused use different modi operandi, including pasting bundles of fake notes onto their bodies and trafficking them to other states,” the officer said.
Another officer claimed there was a decrease in the printing of counterfeit notes of Rs 2,000 and an increase in Rs 500 notes, as these were more commonly used in transactions. The officer added, “These gangs also print small-denomination notes, such as Rs 50, Rs 20, and Rs 10, for use in weekly markets.”
Last year, Delhi Police’s Special Cell had arrested a Bulgarian national with fake Indian currency notes with a face value of Rs 8.9 lakh in the denomination of Rs 500. The suspect was a former Bulgarian army soldier and a member of an international FICN cartel.
According to officials, the Reserve Bank of India and 15 other banks filed the complaints. The highest face value of fake notes — Rs 16.3 lakh —was received at a private bank, followed by another private bank that received Rs 15.7 lakh in fake notes. These notes were primarily in the denomination of Rs 500.
Police said they were trying to find out the source of these notes. “We suspect that the accused could have placed counterfeit notes in the middle of genuine bills while depositing money, allowing them to go undetected,” an officer said, adding that a case under Section 489C (possession of forged or counterfeit currency notes or bank notes) of IPC was registered at Parliament Street police station.
Investigators say fake notes are smuggled into the country through neighboring countries with porous borders. “The accused use different modi operandi, including pasting bundles of fake notes onto their bodies and trafficking them to other states,” the officer said.
Another officer claimed there was a decrease in the printing of counterfeit notes of Rs 2,000 and an increase in Rs 500 notes, as these were more commonly used in transactions. The officer added, “These gangs also print small-denomination notes, such as Rs 50, Rs 20, and Rs 10, for use in weekly markets.”
Last year, Delhi Police’s Special Cell had arrested a Bulgarian national with fake Indian currency notes with a face value of Rs 8.9 lakh in the denomination of Rs 500. The suspect was a former Bulgarian army soldier and a member of an international FICN cartel.
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