Fake notes transaction in the Valley on a rise, millions seized in two years

Gajendra Basnet

August 4, 2020

6 MIN READ

Fake notes transaction in the Valley on a rise, millions seized in two years
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  

KATHMANDU: The issue of fake Indian currency racket flourishing in Nepal drew public attention until a few years back. Now that it is thriving as Nepali themselves are involved in such business as they have been using machines print fake Nepali bills.

Last week, the police in Kathmandu nabbed Narayan Paudel of Syangja with a device to print fake currency and some bundles of fake notes from Shantinagar in Kathmandu.

According to DSP Raj Kumar KC, the spokesperson of Metropolitan Police Circle, Kathmandu, Paudel, who runs a stationery shop at Shantinagar, was cuffed while photocopying fake currencies.

Police have seized a printer used to print fake currency, a thousand rupee note and 10 copies of fake 1,000 rupees from him. The police has initiated a probe on the issue.

SSP Shyam Gyawali says police will offer details after some days as they have initiated the probe.

“Now that he has been arrested, we are investigating into the case to find out how long he has been working on it and what quantity of fake currency has been circulated,” SSP Gyawali said.

This is just a representative case. In the last two years, police have seized fake notes worth millions from Kathmandu.

Fake Nepali currency seized from Kathmandu in last two years

July 31, 2020: A Nepali national arrested from Shantinagar, Kathmandu with 10 fake notes of Rs 1,000

July 24, 2020: A Nepali national arrested from Budhanilkantha, Kathmandu with 19 fake notes of Rs 1,000

January 9, 2020: Four arrested from a fake currency printing center in Kathmandu, fake currency worth 413 thousand seized

October 21, 2019: Three arrested from Gokarneshwor-6, Nayabasti; 34 fake notes of Rs 1,000 and the device used to print the notes seized from them

January 30, 2019: One arrested from Gongabu, Kathmandu with fake Nepali currency worth Rs 150 thousand

October 21, 2018: Five arrested from different places in the capital with fake Nepali currency worth Rs 370 thousand

October 12, 2018: One arrested from Ratna Park, Kathmandu with fake currency worth Rs 10000

October 9, 2018: One arrested from Ratna Park, Kathmandu with fake currency worth Rs 5,000

May 16, 2018: Six arrested with fake currency worth Rs 26.06 million

(Source: Metropolitan Police Circle, Kathmandu)

Besides, there have been several cases of fake currency in Kathmandu. According to SSP Gyawali, lately, Kathmandu has witnessed several instances of fake currency quite frequently.

“Previously, there used to be the cases of fake Indian currency, but nowadays, instances of Nepali fake currency are quite frequent,” he conceded.

According to him, the criminals have been using color photocopy machine to print Nepali notes. Currently, Nepal Police have seized the printing devices from many places in Kathmandu.

Police record shows that the instances of fake currency are more common specially during the festival time at the crammed places with high transaction frequency.

“Restaurants, shops and places with more transaction ratios are regarded as safe haven for the criminals,” police sources claim.

Involvement of organized criminal groups in fake currency transactions

Experts point out that organized groups are particularly involved in making and circulating fake currencies in Nepal.

“The ambitious youths, particularly, work in an organized way to execute the transaction of fake currency,” former DIG Devendra Subedi, who has spent considerable time in the Crime Investigation Bureau of Nepal Police said.

“There are some Indians as well,” he said adding that the main market of fake Nepali currency is Nepal itself.

The counterfeiters chose crowed areas and the places which make big transactions and insert the fake notes in the bundles so as to let the counterfeit money circulate without hindrance.

Former DIG Hemanta Malla who has spent considerable time in top posts of the Central Investigation Bureau and Special Bureau claims that fake currency transactions are getting quite frequent in Nepal now.

“A few years ago, if anyone talked about counterfeit money, obviously it used to be Indian currency. However, the case is getting more complicated these days,” Malla said.

“Most of such cases in Nepal are related with Nepali fake currency. What’s more ! Now the printers and factories are also found in Nepal,” he added.

Malla expects cooperation from the public in curbing the circulation of fake currency.

What do legal provisions say

Clause 256 of the National Criminal Code Act 2017 has the provisions related with the counterfeit money. This clause provisions that a person involved in such crime can be fined from Rs 50 thousand to Rs 100 thousand along with 5-10 years imprisonment.

Police have been using NCC Act while taking action against the counterfeiters, but citing the increasing number of cases, former AIG Subedi hails it important to aware the public about such chances.

Just In