Assam: Fake Currency Racket Busted in Mangaldai in Late-Night Raid, 6 Arrested

GUWAHATI: The Assam Police after a tipoff busted a fake currency racket in the Lengripara locality of Mangaldoi town in a late-night raid on Sunday. 

The police raided a rented house in the Lengripara locality and busted the fake currency racket. 

Six people including three women were picked up by the police from the house.  

The arrested persons have been identified as Zaman Hussain, Anwar Hussain, Syed Hussain, Rijuma Hussain, Joba Das, and Priya Rai.

Fake Indian currency in 2000 and 500 rupee denomination amounting to lakhs were recovered from their possession. A currency minting machine was also recovered from the house among other illegal possessions. 

The fake currencies were hidden in many parts of the house including the ceiling. The police smashed every corner of the house to look for fake currencies and during the action also came across other illegal possessions. 

It is also been alleged that the arrested individuals were also connected to a prostitution racket. It is not known till now if the same house was used for the prostitution racket too. 

Earlier in August this year, three persons were arrested in Guwahati on charges of trading fake currencies. One of the arrested is also linked to a Member of parliament from Arunachal. 

In a study by Indian Statistical Institute in 2015, it was reported that more than 4 billion rupees were in circulation in the country and also it was reported that 7 million rupees of counterfeit currency enter the country every year. 

Indian security agencies are of the view that the quantum of FICN(Fake Indian Currency Notes) in circulation in the country has steadily increased over the years which could be several times more than the estimate arrived at by the Indian Statistical Institute.

In India, possessing counterfeit currency is a punishable offense. But it is only regarded as such if the person knows that the notes are fake. When it comes to counterfeit currency, many laws apply because it is not only a crime against the individual holder but also an act of terrorism against the sovereign state and its people.

The Unlawful Activities (Prevention) Act of 1967 contains several sections dealing with currency counterfeiting. Section 15 of the Act defines it as a "terrorist act."

Also Read Fraud, even in fake currency note racket!

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