Hyderabad: Post demonetisation, there has been a drastic reduction in the circulation of counterfeit currency printed in Pakistan; only one such case has been reported in the city in the past year.
A task force of the city police caught a three-member gang who had smuggled new Rs 2,000 currency notes into the country through Malda in West Bengal and seized Fake Indian Currency Notes (FICN) with a total face value of Rs 1.9 lakh from their possession.
“So far, only one case has been reported of fake currency printed in Pakistan and routed through Bangladesh to the country. Meanwhile, local gangs making photocopies of notes have also been caught,” says a member of the Task Force.
The police say that they have received alerts from intelligence agencies informing them of FICN being smuggled into the country. However, no cases of fake notes being circulated in the city have been detected so far.
Meanwhile, the police have caught several gangs trying to exchange banned currency notes for new ones beyond the stipulated period. The Hyderabad Task Force has caught 26 such gangs and seized demonetised currency with a face value of `31.77 crore from their possession....