Madhya Pradesh police seizes counterfeit notes

Despite the move of demonetisation counterfeiting of currency is not getting under control. There have been reports of fake currency coming from different corners of the country. Recently, Madhya Pradesh police has seized notes of Rs 2000 which summed up to an amount of Rs 80,000.

Police has said that it was tough to distinguish between fake and original products and the counterfeiters belong to Bangladesh. The accused has been identified as a resident of Morena and was caught while buying items with fake currency. The accused was chased and caught, he had notes valuing up to Rs 80,000. Upon further interrogation, the accused revealed that he used to buy fake notes from a person in West Bengal and later came to areas around Gwalior to use the counterfeit currency.

Sources reveal that the features that were copied this time include the watermark, Ashoka Pillar emblem, the guarantee clause, RBI’s governor signature and a denomination number in Devanagari. After demonetisation, this is the second major confiscation. Earlier in 2017 fake notes of Rs 2000 were incorporated with 16 security features of the new currency. The currency was detected due to the pink hue and poor paper quality.

According to central investigation agency officials earlier the FICN (Fake Indian Currency Note) was circulated through Pakistan but now it has found a new base in Bangladesh. Police says that this time counterfeiters have targeted Rs 2000 notes due to their higher circulation compared to Rs 500 notes.

Source: Times of India