Beware! Fake currency menace rising, Rural areas main target

Team Udayavani, Jan 7, 2023, 9:14 AM IST

Representative Image (Source: Pinterest)

Bengaluru: With the assembly elections approaching, the menace of counterfeit notes has begun to raise its head in the state. Several instances of fake currency notes being smuggled into Karnataka from outside the state have come to light in the recent past.

Counterfeiters are producing currency notes of face value Rs 500 and Rs 2,000 in Tamil Nadu, Andhra Pradesh, and parts of North India for circulating them in Karnataka, especially the rural areas.

Police officials have warned the public to extra cautious when dealing with high-face valued Rs 500 and Rs 2,000 currency notes.

Just three days ago, two persons were arrested in Mangaluru for trying to circulate Rs 4.5 lakh worth Rs 500 currency notes. On Thursday, CCB police intercepted and seized Rs 1.28 crore worth Rs 500 and Rs 2,000 counterfeit notes being transported from Tamil Nadu into Bengaluru. Three persons identified as Picchamuthu (48), Nallakani (53), and Subramanian (60) from Tamil Nadu were arrested.

Here are some fake currency rackets busted recently:

January 3, 2023

•  B.C. Road residents Nizamuddin and Razim alias Rafi arrested
•  Rs 500 face value fake currency worth Rs 4.5 lakh seized from them
• They allegedly procured the currency from bengaluru from a person named Daniel and attempted to circulate it in Mangaluru

December 14, 2022

• Two Nigerians arrested in Bengaluru for printing fake currency notes and circulating them on the pretext that they were genuine notes
• Rs 1.10 crore fake currency of Rs 500 denomination and 708 fake USD $100 bills seized.

Oct 12, 2022:

• 73 fake currency notes of Rs 200 and Rs 100 denominations seized
• Shivananda, Kallaiah and Gururaj were arrested near old bus stand in Hubballi.

September 9, 2022:

• Pradeep and Sanal, who hail from Kerala, were arrested for their alleged involvement in the racket of manufacturing fake currency notes in Bengaluru.
• Fake currency notes of Rs 500 and Rs 2,000 denominations seized
• Rs 500 and Rs 2,000 notes were photocopied onto bond paper and passed off as genuine currency notes