How Pakistan perfected fake currency after demonetisation

Despite demonetisation, 11 of the 17 security features in the new notes have been replicated. Read on to find out how

On November 8, 2016, Prime Minister Narendra Modi made a surprise announcement on demonetisation, declaring that the Rs 500 and 1,000 notes were no longer legal tender. He also made it a point to state that one of the reasons behind this decision was to eradicate the menace of fake currency.

Soon, social media was flooded with stories that claimed that the new Rs 2,000 and 500 notes came with a security chip, but they all turned out to be rumours. And three months since the demonetisation announcement, fake notes are back in the market -- with 11 out of the 17 security features being replicated. This has prompted officials, who are closely monitoring the situation to state that if 11 security features have been replicated, then Pakistan would not find it hard to match the rest of the features as well.

[Fake Rs 2,000 note: 11 out of 17 security features replicated]

One of the main reasons for the new notes being replicated so easily is because there are no additional security features. They are just new notes with a new denomination. Both the new Rs 500 and 2,000 notes have the same security features that were present in the old 500 and 1,000 notes.

[Beware! How to spot a fake Rs 500 and 2,000 note]

"This is the reason why these notes are being counterfeited with such ease," officers point out. Pakistan too pushed these notes into India in a very systematic manner. The hub of fake currency in India, Malda continues to be a landing point for such notes. Almost all cases of fake currency reported since the past three months are from Malda.

The first attempt to smuggle the new fake notes was made in December. The notes seized at that time were not of very high quality. However, seizures in January only showed that the fake notes had improved and almost 70 per cent of the security features were replicated.

Pakistan has not yet made the big push. They are sending in the fake notes in very small quantities. Notes in smaller numbers such as 6 or 10 have been seized. "They are only bringing in samples now. That is how their market works," says an Intelligence Bureau official. "Once the point man in India is completely satisfied, then he would order for more, and that is when the bulk would start coming in," officers point out.

OneIndia News