Beware of fake notes: Gangs operating in Hyderabad

Hyderabad: After the RBI has started withdrawing pre-2005 currency notes to improve security features and prevent fake currency notes. According to police Gangs operating on the Indo-Bangladesh border are pumping in newly-printed fake currency to metropolitan cities including Hyderabad.

Experts say only trained eyes can identify fake notes as they are printed using advanced technology and even the watermark is present on it. Local gangs, who print fake currency in Guntur, Warangal and Nizamabad are also active in the city.

Recently Cyberabad police arrested a gang from Malda district of West Bengal, who were settled on the outskirts of Malkajgiri, afetr account holders from Malkajgiri, Jeedimetla. LB Nagar, and Chaitanyapuri have approached police with complaints of getting fake notes.

According to police the gang used to mingled with the locals and slowly started spending fake currency.
They purchased goods from roadside shops using fake 500 and 1000 notes. This continued for several months till they were trapped.

After the arrest the gang reveals the shocking details. “There is huge racket operating out of Malda, they have divided into groups of 15 to 20-members and are operating in Bengaluru, Mumbai, Hyderabad, Delhi and other major cities with the fake notes. “

Police also says that since the Bangladesh-India border is porous, a large chunk of notes are printed in Bangladesh and smuggled to India.

Experts say the RBI has included new security features in currency notes that were printed this financial year. 1,000 notes contain a readable, windowed security thread alternately visible on the obverse with the inscriptions “‘Bharat” (in Hindi), “1000” and “RBI”. When held against a light the security thread on RS 1000, RS 500 and on RS 100 can be seen as one continuous line.