Dubai turns counterfeit hub

Apr 30, 2012 |

Hyderabad

Tags:

fake currency

After Bangladesh, Dubai has become the latest hub for High Quality Fake Indian Currency Notes (FICN).

The DRI has got solid information regarding Pak intelligence agencies smuggling FICN from Dubai and Middle East into Andhra Pradesh. Earlier, FICN used to be pumped in from Dubai, but Hyderabad has suddenly become the new point for injecting counterfeit currency.

What is more unnerving is the purposes for which this fake currency is being used. "Without any doubt, this is being used for fuelling terror and creating unrest. As per official sources, attempts to smuggle FICN has suddenly seen a spurt since the last year and a half. “In the year 2010-2011, FICN worth Rs 35 crore were seized. Pakistan is behind this, an official said.

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