More than 4 billion rupees were in circulation in the country as of 2015, according to a study by the Indian Statistical Institute, and 7 million rupees worth of fake money entered the country annually.
Digital Desk: In a late-night raid on
Sunday, the Assam Police, acting on a tip, dismantled a phoney cash ring in the
Mangaldoi town neighbourhood of Lengripara. The phoney currency ring was caught
after the police conducted a raid on a rented home in the Lengripara
neighbourhood. The cops removed six people from the premises, including three
women. Zaman Hussain, Anwar Hussain, Syed Hussain, Rijuma Hussain, Joba Das,
and Priya Rai have been named as the individuals that were detained.
They had fake Indian currency from 2000, totaling
lakhs of rupees, which was found in their possession. Along with other illicit
items, a currency minting machine was also found in the home. The house's
ceiling was one of the many places where the fake money was concealed. In the
process of searching the entire residence for counterfeit money, the police
also discovered other illicit items.
The people who were detained allegedly had a
connection to a prostitution ring as well. If the same house was also used for
the prostitution ring, it is not yet known. Three people were detained in
Guwahati earlier this month on suspicion of dealing counterfeit money. One of
the people detained is also connected to an Arunachal member of parliament. More
than 4 billion rupees were in circulation in the country as of 2015, according
to a study by the Indian Statistical Institute, and 7 million rupees worth of
fake money entered the country annually.
According to Indian security authorities, the amount
of FICNs (Fake Indian Currency Notes) in circulation in the nation has grown
gradually over time and may be multiple times more than the Indian Statistical
Institute's estimate. Possession of counterfeit cash is a crime in India. However,
it is only taken into consideration if the person is aware that the notes are
fraudulent. Numerous laws are relevant when it comes to counterfeit money
because it constitutes an act of terrorism against the sovereign state and its
citizens in addition to being a criminal against the individual holder.
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