Staff Reporter :
At least 50 gangs of counterfeit currency makers are now active in the capital and its outskirts to circulate fake bank notes in the markets, Intelligence sources said.
They said the gangs of forgers have mainly targeted cattle markets in the capital to release their fake currency notes along with other parts of the country in collaboration with their distributors.
“Currency counterfeiters and their distributors have geared up their activities to spread fake currency notes ahead of the Eid-ul-Azha. The organised gangs comprising several hundred people are operating the murky business in the city and across the country,” an official of Detective Branch (DB) of Police told The New Nation yesterday.
He said the currency counterfeiters become more active ahead of Eid festivals when transaction of cash increases significantly.
“We have already intensified our vigilance in different parts of the capital to prevent circulation of fake currency and nab the currency counterfeiters,” the DB official said.
According to Bangladesh Bank (BB), the law enforcement agencies have detained at least 1000 members of the fake note gangs with fake currency notes worth Tk 1.5 crore in separate drives across the country during the last nine months.
Over 6,000 cases were also been filed till July this year in connection with production, circulation and carrying of fake currency notes.
Sources said, many cases remain pending with different courts for years as the disposal rate of such cases are very low due to lack of witnesses and evidences. Even, most of the criminals get released on bail after serving a few months in jail.
With the use of computer technology, the production and supply of counterfeit notes has become easy for money-spinners who make a very small investment in their pursuit of making quick bucks.
Sources in the Intelligence Agencies said some international criminals, especially from Africa, the Philippines, Pakistan and Thailand are providing technical support for the fraudsters to make the fake notes in Bangladesh.
Meanwhile, the Central Bank has asked its branch offices and all commercial banks to be cautious about fake notes, especially ahead of the Eid.
It also sought cooperation from the law enforcement agencies in this regard. Besides, police and local administration have been asked to remain alert at district level to prevent circulation of fake bank notes.
“As the counterfeiters become active during Eid seasons, we have directed all the commercial banks to use fake currency identifier machines. If any bank fails to comply with the direction, stern actions would be taken against it,” Suvankar Saha, an Executive Director of BB, told The New Nation yesterday.
He said the Central Bank is regularly conducting awareness campaign through media so that people learn the security features on big bank notes.
“The law enforcers and the Central Bank alone cannot stop counterfeiting. Awareness of the people in this regard can significantly reduce the circulation of fake currency notes in the market,” said Suvankar Saha.
At least 50 gangs of counterfeit currency makers are now active in the capital and its outskirts to circulate fake bank notes in the markets, Intelligence sources said.
They said the gangs of forgers have mainly targeted cattle markets in the capital to release their fake currency notes along with other parts of the country in collaboration with their distributors.
“Currency counterfeiters and their distributors have geared up their activities to spread fake currency notes ahead of the Eid-ul-Azha. The organised gangs comprising several hundred people are operating the murky business in the city and across the country,” an official of Detective Branch (DB) of Police told The New Nation yesterday.
He said the currency counterfeiters become more active ahead of Eid festivals when transaction of cash increases significantly.
“We have already intensified our vigilance in different parts of the capital to prevent circulation of fake currency and nab the currency counterfeiters,” the DB official said.
According to Bangladesh Bank (BB), the law enforcement agencies have detained at least 1000 members of the fake note gangs with fake currency notes worth Tk 1.5 crore in separate drives across the country during the last nine months.
Over 6,000 cases were also been filed till July this year in connection with production, circulation and carrying of fake currency notes.
Sources said, many cases remain pending with different courts for years as the disposal rate of such cases are very low due to lack of witnesses and evidences. Even, most of the criminals get released on bail after serving a few months in jail.
With the use of computer technology, the production and supply of counterfeit notes has become easy for money-spinners who make a very small investment in their pursuit of making quick bucks.
Sources in the Intelligence Agencies said some international criminals, especially from Africa, the Philippines, Pakistan and Thailand are providing technical support for the fraudsters to make the fake notes in Bangladesh.
Meanwhile, the Central Bank has asked its branch offices and all commercial banks to be cautious about fake notes, especially ahead of the Eid.
It also sought cooperation from the law enforcement agencies in this regard. Besides, police and local administration have been asked to remain alert at district level to prevent circulation of fake bank notes.
“As the counterfeiters become active during Eid seasons, we have directed all the commercial banks to use fake currency identifier machines. If any bank fails to comply with the direction, stern actions would be taken against it,” Suvankar Saha, an Executive Director of BB, told The New Nation yesterday.
He said the Central Bank is regularly conducting awareness campaign through media so that people learn the security features on big bank notes.
“The law enforcers and the Central Bank alone cannot stop counterfeiting. Awareness of the people in this regard can significantly reduce the circulation of fake currency notes in the market,” said Suvankar Saha.
