Fake currency makers spin money while detection devices still in planning phase
Published : Wednesday, 27 April, 2022 at 12:00 AM Count : 354
Fake currency makers are active again across the country ahead of Eid. More than 30 gangs, each consisting 10-12 members, are engaged in the crime currently, among which, 15 are based in Dhaka alone.
According to Bangladesh Bank, forged note traders have become desperate throughout the country. Foreigners have joined the domestic syndicates. But they are more active in the capital.
They increase their activity targeting Ramadan and Eid. Forged notes are being found in local markets, reputable shopping malls and even ATM booths.
During this time, 5,000 members of the domestic and foreign counterfeit money trafficking rings have been arrested in raids in different parts of the country. Cases filed against members of more than 1,000 counterfeit money changers across the country are pending. There are also instances where the same persons have been released on bail after being arrested more than once and are again engaged in counterfeit money
Detectives are conducting surveillance on members of the counterfeit note making rings who were
released on bail after being arrested in the past. Bangladesh Bank has also instructed relevant authorities to stop counterfeit notes in the Eid market. This news has been known from the sources of the intelligence agencies.
Sources said that during the raids in different parts of the country, various equipment for making counterfeit notes like laptops, printers, dice, cutters, raw materials for making counterfeit notes worth crores of taka, paper, ink, water stamping materials had been recovered. Among those conducting the operation are various units of law enforcement agencies including RAB, police, CID, DB, intelligence agencies. Plans are also being made to install counterfeit note detection devices with the help of Bangladesh Bank.
An official of the RAB said that although the cycle of making counterfeit notes is active throughout the year, it intensifies during Eid and Puja festivals. The exchange of counterfeit notes was extremely limited, even in the face of severe lockdowns to control coronary infections. Of these, several crores of counterfeit notes have been distributed in the capital. After receiving such information, steps have been taken to increase the alert including installation of counterfeit note detection machines.
Tawfiq, who has been involved in the counterfeit note business for the past three years, is a first-year student in the civil engineering department of a private university. Two more members of this cycle have been identified. They sell counterfeit notes of Tk 1 lakh for Tk 25,000. In hundreds of these invoices, they have released counterfeit notes worth crores of Taka. This cycle last year saw massive spurt in counterfeit notes business.
A police official said that about half a hundred members of the gangs had been arrested for printing and distributing counterfeit notes, but had been released on bail and engaged in the same business again.
In the capital's Mohammadpur, four people, including Mamun, the ringleader of the hospital, were arrested with counterfeit money and yaba.
According to the Dhaka Metropolitan Police, shopping takes an upswing across the country, including the capital, ahead of Eid and , during this time hundreds of crores of taka are traded. With this opportunity, a class of fraudsters has become active. Members of several gangs are becoming active in spreading fake notes. This cycle has a strong network across the country. Various strategies are being chosen to distribute counterfeit notes in the market. However, various units of the law enforcement agencies have already stepped up surveillance to thwart the activities of these gangs.
According to RAB sources, during interrogation of the members of the counterfeit note ring arrested during the RAB operation in Pallabi and Bhatara areas of Mirpur, it was learned that the accused had been making counterfeit notes very accurately. They have been engaged in this work for a long time.
"Bangladesh Bank and law enforcers had talks with us in regards of installation of fake note detection devices in shopping malls. But they are not installing it by themselves," Helal Uddin, leader of Dhaka Dokan Malik Samity.
He said monetary transactions have already gone up and retail shopkeepers now have to install the detection devices at their own initiatives.