CENTRAL BUREAU OF INVESTIGATION
NEW DELHI,30th MARCH, 2004
LAW ENFORCEMENT AGENCIES SHOULD COOPERATE TO TACKLE COUNTERFEITING OF CURRENCY NOTES: CBI DIRECTOR.
The CBI Director, Shri U.S. Misra called for cooperation among the law enforcement agencies to deal with counterfeiting of currency notes. Inaugurating a conference on "Circulation of fake Indian currency notes: Implication on National security and counter measures" here, Shri Misra said that a common platform is required to discuss ways and means to tackle this crime since counterfeiting operations are increasingly involving criminals based abroad and having links with terrorists organisation and drug traffickers. Shri Misra said that the task of tackling counterfeiting cannot be limited to only law enforcement but should include agencies from outside the country including the Interpol. He said that increased circulation of Fake Indian Currency Notes (FICN) has been identified by the National Security Council (NSC) as one of the major threats to the country's economy. Modern printing technology, mode of communication and transportation are facilitating criminals involved in counterfeiting to operate from anywhere in the world, he added. Shri Misra also mentioned about the special initiative taken by CBI, which has been nominated by the Government of India as the nodal agency to monitor the investigation of fake currency notes, in tackling such crimes.
Mr. Stephan Kapellusch, Crime Intelligence Officer, Counterfeiting and Securities Documents Branch, Interpol, France, while making a detailed presentation spoke about the recommended actions for the fight against counterfeit and offered the help of Interpol to tackle this crime. Presentation were also made by CBI and some States on various aspects of the organised crime of counterfeiting of the Indian currency. During the deliberations, it was revealed that during January-September, 2003 a total number of 965 cases of counterfeiting were registered in the country with Andhra Pradesh reporting 160 cases followed by Maharastra with 153 and Gujarat 180. As per the statistics of the National Crimes Record Bureau, 99.3% of the counterfeiting was done in the case of currency notes of Rs.1,000/-, Rs.500/-, Rs.100/-, Rs.50/- denominations. During this period, a total number of 99,557 pieces of currency notes with a total value of about Rs. 1.81 crore were seized. It was also mentioned in the conference that in two recent cases, one in New Delhi and the other in the Sikkim, fake currency notes worth about Rs. 17 lakh were seized and 10 persons were arrested. The Delhi case was registered with the Bhajanpura police station in which fake currency worth Rs. 12.12 lakh and printing equipments were seized. It was revealed in the conference that there has been sudden increase of FICN seizures from 1997 onwards and recently a Sessions court at Bhuj (Gujarat) has sentenced to death four ISI agents for smuggling of FICN and arms and ammunition. The one day conference organised by CBI was attended by about 20 delegates including senior police officers from the States, Union Ministries of Home Affairs and Finance, RBI, IB, RAW, CFSL, NCRB & CBI. The meeting was a follow up of another national level conference organised by CBI in November last which has made a number of recommendation to tackle counterfeiting of currency notes. Among others, it has suggested for establishing a Multidisciplinary Task Force at the State and Central level, gearing up of intelligence by banks, stringent surveillance procedures and setting up of Special Courts to try counterfeiting cases besides award of stringent punishment to offenders.