Consensus must to tackle fake currency menace: CBI Director

New Delhi, Apr 13 (UNI) India today called for a consensus on chalking out a roadmap to tackle the menace of counterfeit currency which was essential to contain organised crime.

Addressing the 19 Interpol Asian Regional Conference in Jakarta (Indonesia), CBI Director Vijay Shankar said with the involvement of transnational organised crime syndicates and availability of sophisticated machines, conterfeiting had assumed a new dimension which could be dealt with only through a coordinated approach.

Elaborating on 'Scenario in Counterfeiting of Currency' at the conference, Mr Shankar spoke on the efforts taken by the European Union to check fake currency, while adding that some of those 'best practices' could be replicated to arrest the trend in the region.

Also, money laundering needed extra attention because of its association with almost every form of organised crime and terrorism, he stressed.

Calling on members of the conference to take advantage of India's advanced police training facilities the CBI Director, who leads a three-member Indian delegation, said bilateral dialogue instead of multilateral cooperation and instruments like 'deportation' be preferred in place of slow processes like 'extradition' if terrorism was to be curbed effectively, sources said.

The three-day conference was attended by 200 senior law enforcement officials from 40 countries of the Asia-Pacific region.

UNI AN ARB PM2035