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| Sharp rise in fake currency |
| From here, the currency is shipped to Dubai, from where it is smuggled in by migrant workers returning to India.
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| INDIA
, 13-September-2007
2:26:46 AM |
| With the seizure of Rs 25 lakh in fake currency, the Mumbai police and the Reserve Bank of India are worried over an increase in the circulation of fake currency.
High-quality fake currency has shown a sharp rise in daily circulation with 28 cases till August this year. Recently more than six people were arrested.
''Fake currency apart from destabilising the economy is also used to fund terrorist activities by the enemy country,'' said Y P Singh, Former IPS Officer.
Printed in neighbouring countries, the dirty money has been traced to Dawood Ibrahim aide Aftab Batki in Karachi and is distributed by men like Abdullah Mukri.
From here, the currency is shipped to Dubai, from where it is smuggled in by migrant workers returning to India.
Counterfeit currency has also been coming in through the Indo-Nepal and Indo-Bangladesh borders, circulated and traded at large shopping centres to avoid detection.
''The police works on intelligence and information to bust the modules involved in distribution of fake currency to control the menace. The racket is widespread all over India and the counterfeit is pumped in from Karachi,'' said Rakesh Maria, JCP (Crime), Mumbai Police.
It's a network that's both widespread and well-entrenched. And unless the Mumbai police go after the kingpins, the counterfeiters will only dig their heels in deeper.
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