• Wednesday, November 20, 2019

For first time, India to name Pakistan in fake currency racket

Discussion in 'Strategic & Foreign Affairs' started by ajtr, Nov 16, 2010.

  1. ajtr

    ajtr BANNED

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    For first time, India to name Pakistan in fake currency racket


    NEW DELHI: With India having collected concrete evidence against Pakistan for allegedly printing and circulating fake Indian currency notes (FICNs), New Delhi will for the first time name Islamabad at various international fora soon.

    An official said: "India will first approach the Financial Action Task Force -- an inter-governmental body -- whose purpose is the development and promotion of national and international policies to combat money laundering and terror financing. Subsequently, the matter will be raised before World Bank, IMF and Interpol."

    Government sources said that a detailed dossier was being prepared incorporating the findings of various agencies like CBI and NIA which had over the years collected evidence, on how the FICNs were being printed at Quetta in Balochistan using "sophisticated machines" and "currency papers" which are actually meant for printing Pakistani currency notes.

    Some time ago, the NIA in the chargesheet in an FICN case of Mumbai had clearly hinted at Pakistan's hand in printing and circulation of fake Indian currency. The chargesheet had said: "After thoroughly examining the FICN, it can be concluded that the notes have been printed on highly sophisticated machines which a common man cannot acquire since such machines involve huge capital investment. The perfection of window and watermarks formation indicates the manufacture of FICN paper on regular currency making machines which can only be owned by a country/state."

    The chargesheet also said: "The wilful circulation of such high quality FICN printed abroad and smuggled into the country with the intent to threaten the economic security and sovereignty of India, therefore, tantamounts to a terrorist act committed to cause damage and destruction of India's legal tender and monetary system, thereby impeding the economic security of India."

    Besides, the security agencies in India recently intercepted conversation between some Pakistani officials and their Indian agents which suggested that FICNs worth Rs 40 crore was ready to be sent to India. Only recently, the CBI had busted a racket by arresting seven persons in Delhi, Haryana, Bihar and West Bengal. Fake currency notes worth Rs one crore -- mostly in denomination of Rs 500 and Rs 100 -- were recovered from their possession.

    "This gang had got all the FICNs from Pakistan. Forensic examination of the seized currency notes suggest that the paper used for the purpose was the one which was actually meant for printing Pakistan's currency," said a senior official.

    It is suspected that Pakistan might have imported currency paper from European countries beyond its requirement and subsequently diverted it to print FICNs. The agencies here have found that while the FICNs are printed using Pakistan state agencies, these are being circulated through the underworld network of Dawood Ibrahim and his henchmen in West Asian and South-East Asian countries.

    The FICNs seized in the recent past, officials said, showed that these notes were brought in by agents from Pakistan via Bangladesh, Nepal, Bangkok, Colombo, Dubai and sometimes Kuala Lumpur.

    vishwa.mohan@timesgroup.com

    Read more: For first time, India to name Pakistan in fake currency racket - The Times of India For first time, India to name Pakistan in fake currency racket - The Times of India
     
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  2. Abu Zolfiqar

    Abu Zolfiqar Rest in Peace

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    [​IMG]
     
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  3. flameboard

    flameboard FULL MEMBER

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    Old news they have been this $#!t for years
     
  4. SpArK

    SpArK PDF THINK TANK: ANALYST

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    Pakistan govt printing counterfeit currency, India has proof


    Indian intelligence agencies have evidence that the Pakistan government is printing fake Indian currency notes at its mints and pushing these
    into India.

    This came to light after the recent arrest of a gang of seven people who were to offload Rs1 crore in fake notes in India. Then, a phone call made by someone in Pakistan was intercepted, asking Indian contacts to collect fake currency notes of Rs40 crore from various destinations in India and neighbouring countries.

    With all this evidence in its bag, the Indian government decided to launch a diplomatic offensive to expose Pakistan’s involvement in printing fake Indian currency notes at its mints.

    “The forensic tests done on Rs500 fake currency notes have confirmed that these were printed at a high-tech and costly printing presses, the ones countries use to print their own currencies. We will send this evidence to certain international agencies so that they can carry out investigations. After this, they can approach the World Bank and the International Monetary Fund to get Pakistan blacklisted,” the official said.

    He pointed out that the first step in this direction will be to contact the Financial Action Task Force, an international agency set up to curb money-laundering and terror financing. India became a signatory when home minister P Chidambaram visited America sometime ago.

    According to the official, the fakes were of a high quality. “The quality of paper, printing and security features on the notes confirmed that these cannot be printed by non-state actors. Plus, we have clear evidence that these counterfeits are coming from Pakistan,” he observed.

    This time, the Indian government is serious about getting Pakistan to stop pushing in fake currency into India. This is the reason New Delhi has decided to approach the international community, instead of speaking to Pakistan, which lives in a state of denial.

    “As a strategic move, we have decided to do something to shame Pakistan on the international stage and provide them evidence to further investigate the matter. This is the only way to pressurise Pakistan’s ISI to stop printing and pumping fake currency into India,” he added.

    The information that fakes were being printed in Pakistan’s official mints came to light after the CBI busted a seven-member gang.

    The operatives were nabbed from Delhi, Haryana, Bihar and West Bengal. Fake currency notes of Rs500 denomination were also seized during a recent raid in Malaysia.

    Annually, Indian security and intelligence agencies seize fake currency with a face value of Rs1 crore. The consignments from Pakistan come via Dhaka, Kathmanduand even Dubai, just to divert suspicion.

    Pakistan govt printing counterfeit currency, India has proof - India - DNA


    World Bank and the International Monetary Fund
     
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  5. Hulk

    Hulk ELITE MEMBER

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    There is a famous quote.
    "Nango se bhagwan bhi darta hai".
     
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  6. unicorn

    unicorn FULL MEMBER

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    First time LOL
    Even the pigeons are claimed to be an ISI agents by India:rofl::rofl::rofl::rofl:
     
  7. jha

    jha ELITE MEMBER

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    hahahaha..classic comment..had forgotten this..Thanks sir..:rofl::rofl:
     
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  8. Vajra_Yuddh

    Vajra_Yuddh BANNED

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    Oh dear; Pakistan's government is really having a field day with all allegations from all over the world coming eh?
     
  9. Abu Zolfiqar

    Abu Zolfiqar Rest in Peace

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    Pakistan did this.
    They promoted that.
    They caused this.
    They are answerable to that



    Locus classicus!



    it's counter-intuitive if you want anything done; why? Coz they are numb to all the critisism by now :D


    got evidence? share it or go to interpol.



    Until then, talk is cheap. Maybe you should go talk to Nepal and some of your guys in the troubled, violence-prone northeast of your country --instead of focusing (read obcessing) over Pakistan in every sphere and aspect of your life.


    now if you'll excuse me, I need to pick up some polyvinyl alcohol and some toner cartridges for my printer


    :lol::lol::lol::lol::lol:
     
  10. Abu Zolfiqar

    Abu Zolfiqar Rest in Peace

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    perhaps you got excited but forgot to think clearly or read properly here; you'll have to send some evidence to ''international agencies'' (law enforcement, not monetary or financial ones)

    WB and IMF can only do so much here, buddy...


    but then again, apparently the indian have ''all evidence in one bag'' (as they do always i presume :lol::lol::lol:)

    by all means they should go on their so-called diplomatic offensive for whatever its worth and share the 'evidence' to the world

    we will casually and nonchalantly be watching in amusement
     
  11. Avatar

    Avatar FULL MEMBER

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    The same organizations that your leaders are begging from to keep your economy afloat.
     
  12. Abu Zolfiqar

    Abu Zolfiqar Rest in Peace

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    Nope! refer to above post, kiddo.

    and yes, leaders may beg to their hearts content. Has nothing to do with me; little to nothing to do with the average Pakistani.


    therefore your post is purely dismissable

    maybe indians should just do more to make it harder to counterfeit their currency. No currency is fool proof. Maybe also india should look at insiders who may be helping these alleged counterfeiters ;)
     
  13. DESERT FIGHTER

    DESERT FIGHTER ELITE MEMBER

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    ONCE MORE........BUHAHAHAHHAHAHA

     
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  14. BATMAN

    BATMAN BANNED

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    Do it while Zardari is still around.
     
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  15. raveolution

    raveolution FULL MEMBER

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    Surprised at such a casual remark from a senior member.

    The IMF and the WB can do a lot. If blacklisted, do you understand what it would mean for your economy which is already running on funds doled out by these agencies??

    I think it would hurt a lot more than what an international law enforcement agency could do such as the Interpol!!!
     
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