Gangs now ensure that the high security paper from Pak and Bangla first reaches Nepal and Bhutan.
In ominous signs of the growing printing prowess of gangs involved in circulating fake Indian currency notes (FICN), investigators have found in recent cases that the operatives are printing the notes in the country itself and have started smuggling in just the high security paper and ink for the purpose.
The high security paper used in printing currency notes is being smuggled into India from neighbouring countries like Nepal and Bhutan, said an official.
A new module of FICN exposed by NIA has revealed that instead of finished fake notes coming into the country from Pakistan, now paper, ink and other raw material are being smuggled in separately and printing is taking place at a number of locations across states, including Karnataka, Maharashtra and Uttar Pradesh.
Investigations have revealed that the gangs now ensure that the high security paper from Pakistan and Bangladesh first reaches Nepal and Bhutan. From these nations, the smugglers bring the paper to India.
“Ink and printing machines for printing FICN are also coming from Pakistan,” said an investigator.
According to the Ministry of Finance, the joint efforts of multiple agencies have resulted in the seizure of 23.27 lakh fake currency notes in the last six years. The highest 8.35 lakh fake currency notes were seized by the government agencies in 2020, which accounts for 36% of the total seizures.Earlier this month, the NIA seized fake notes, currency printing paper, printer and digital gadgets in raids across four states to bust FICN rackets. The raids were conducted as part of the NIA investigation in a case registered on 24 November under penal provisions related to using counterfeit and conspiracy.
Based on credible information, NIA teams cracked down at the premises of accused Rahul Tanaji Patil alias Javed in Kohlapur district of Maharashtra, Vivek Thakur alias Aditya Singh in Shahjahanpur district of Uttar Pradesh, Mahendar in Ballari district of Karnataka, and suspects Shiva Patil alias Bhimrav in Yavatmal district of Maharashtra and Shashi Bhushan in Rohtas district of Bihar. The searches led to the seizure of FICN of face value of Rs 6,600 (in denomination of Rs 500, Rs 200 and Rs 100), along with currency printing papers, from the house of Vivek Thakur. He along with Shiva Patil and others, used to procure fake currency and its printing accessories from the bordering countries, for circulation across India.
NIA investigations revealed that Rahul Tanaji Patil was using fraudulently obtained SIM cards to take payments by promising to supply fake currency notes. The search at Mahender’s house led to the seizure of a printer meant to be used for FICN.