Fake notes enter nation through forex agencies

Jul 01, 2012 |

Kochi

Tags:

fake currency

Counterfeit currency racketeers seem to have evolved a new modus operandi, investigation by the police intelligence has revealed.

According to the police, the new players in the racket, in league with various terror outfits, use international money exchange agencies to transport counterfeit notes.

Another change is in the route of bringing in fake currency notes. They are mainly supplied from Gulf countries including Dubai and Kuwait and are distributed through people who exchange money through the agencies.

The new routes popped up after the cops put a tab on the regular routes of counterfeit currency, said an intelligence source.

Earlier, police had arrested an Iranian from Kochi who had on him 32 fake notes of Rs 500 denomination.

He told the cops that he got the fake notes from a money exchange agency in Kuwait, before coming to India.

The cops claim the terrorist groups have a significant role in bringing in fake Indian currency notes from Dubai and Kuwait, which are the main transit points.

The intelligence source said they are set to launch a wider mission to probe the involvement of money exchange agencies across the globe.

The source added that inter-state gangs involved in narcotics traffic and transfer of arms have
also been found to be involved in counterfeit currency rackets and they are under the scanner of Anti-Terrorist Squad (ATS) and Narcotics Control Bureau (NCB).

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