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.
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
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.
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
