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Note forgery gangs active

Published : Friday, 31 July, 2020 at 12:00 AM  Count : 159

The fear of forged currency flooding the market has gripped the country ahead of the Eid-ul Azha.
Counterfeit note forgery syndicates have targeted the cattle markets like they do every year. The fear is not unfounded if past experiences are taken into consideration, according to sources.
The syndicates engaged in currency forgery are active again trying to make a quick buck before Eid-ul Azha. The syndicates are not only printing forged currency in bulk but also using dishonest bank officials and money changers to push these counterfeit notes in circulation.
Fake note makers are up and spreading crores of counterfeit bank notes across the country ahead of the upcoming Eid ul-Azha.
According to sources, the demand for counterfeit money has increased ahead of Eid as retailers are able to exchange counterfeit money easily.
Fake note makers are found adopting new techniques to make such notes avoiding detection, according to law enforcers.
Every time law enforcers manage to nab some fake note traders, the real culprits slip through the net and remain at large. Law enforcers also came to know that the arrested fake note makers return to recidivism securing bail.
The Rapid Action Battalion (RAB) has arrested two individuals suspected to be involved in counterfeit money-making gang on July 21.
The suspects, identified as Palash and Rifat were arrested from Dhaka's Moghbazar. The Elite forces also seized counterfeit notes amounting to Tk1 crore, a computer, a printer and other material to make the fake notes.
They sell counterfeit     notes amounting to Tk1 lakh for Tk18, 000 to Tk20, 000, said a RAB official. The fake note makers get orders on mobile phone from different places.
Detective Branch (DB) of Dhaka Metropolitan Police arrested three people along with fake notes from Bangshal and Dhani Keraniganj areas on Saturday night.
The arrestees are Md Saiful, 32, the ringleader, and his two accomplices Md Rubel, 28, and Alam Hossain, 28.
Razib Al Masud, Deputy Commissioner of DB Lalbagh Division, said Saiful was arrested earlier and a case was also found to be registered against him.
On June 29, Rapid Action Battalion arrested six members including two women of a note forgery syndicate from Vatara area in the capital.

RAB recovered around counterfeit notes worth Tk4 crore, counterfeit Indian currency worth around Rs40 lakh and materials to prepare around Tk25 - Tk30 crore more counterfeit notes.
A high officials of police HQ told the Daily Observer that a number of special teams of Rapid Action Battalion (RAB) and Detective Branch (DB) have already been deployed to prevent the circulation of fake currency notes ahead of Eid.

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