Post Demonetization, Gujarat reports highest fake currency Seizure

Lok Sabha on Tuesday 7 August was informed that post demonetisation, fake currency worth Rs 13.8 crore was seized in the country, and the highest value of notes seizure over Rs 5.94 crore was reported from Gujarat.

In response to a question asked in the house, Minister of State for Home Affairs, Hansraj Gangaram Ahir said that as per the data available with the National Crime Records Bureau (NCRB), Fake Indian Currency Notes (FICN) of face value Rs 13.87 crore were seized in states bordering Nepal, Pakistan and Bangladesh from November 09, 2016 till June 30 this year after notes ban.

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“Intelligence and security agencies of the Centre and states keep a close watch on the elements involved in the circulation of fake currency in the country and take action on any reported violation of law,” the minister said.

He also added that citing steps taken by the government to curb their smuggling and circulation, he said the production or smuggling or circulation of fake currency, coin or any other material was made a terrorist act under the Unlawful Activities (Prevention) Act, 1967.

He also added that the FICN Coordination Group (FCORD) was formed by the MHA to share intelligence/information among the different security agencies of the state/Centre to counter the problem of circulation of fake currency notes in the country.

“A Terror Funding and Fake Currency Cell (TFFC) has also been constituted in the NIA to investigate terror funding and fake currency cases,” he said.

The minister said that necessary steps including strengthening security at international borders will be taken by using new surveillance technology, deploying additional manpower for round the clock surveillance, establishing observations posts along the international border, erection of border fencing and intensive patrolling.

A Memorandum of Understanding (MoU) was signed between India and Bangladesh to prevent and counter smuggling and circulation of fake currency notes, he added.