Fake currency: India to expose Pak in global fora

India will soon launch a diplomatic offensive against Pakistan by exposing before international fora like the World Bank and the IMF the involvement of that country`s official agencies in printing fake Indian currency notes.

Updated: Nov 15, 2010, 20:09 PM IST

New Delhi: India will soon launch a diplomatic
offensive against Pakistan by exposing before international
fora like the World Bank and the IMF the involvement of that
country`s official agencies in printing fake Indian currency
notes (FICN) and pumping them into Indian market.

Armed with documentary evidence which established Pakistani
official agencies` involvement in making FICN, New Delhi will
first approach the Financial Action Task Force (FATF), an
inter-governmental body whose purpose is the development and
promotion of national and international policies to combat
money laundering and terror financing.

"FICN, seized recently, are of very high quality. The
quality of paper, printing and security features are of such
high standard that no non-state actor can do it. We have also
evidence that these FICN are coming from Pakistan," a senior
government official said.

The recent seizure of all FICN have links with Pakistan,
officials said, noting that the cash was brought in by
Pakistani nationals or by agents from Pakistan through
Bangladesh, Nepal and Dubai and sometimes through Kuala
Lumpur.

Officials feel that unless India does something to cause
"shame" to Pakistan in international forums and give them
evidence to conduct enquiries by themselves, circulation of
FICN by Pakistani agencies like ISI would not stop.

"We will go to the World Bank and the International
Monetary Fund (IMF) to highlight Pakistan`s shameful act," the
official said.

Security agencies have intercepted conversation between
some Pakistani officials and Indian agents which suggested
that FICN with a face value of Rs 40 crore was ready to be
sent to India.

Recently, the CBI had busted an FICN racket by arresting
seven persons in Delhi, Haryana, Bihar and West Bengal. Fake
notes having a face value of Rs one crore -- mostly in
denomination of Rs 500 and Rs 100 -- were recovered from their
possession.

"This gang had got all the FICN from Pakistan," the
official said.

PTI