Fake Currency Notes - Addl Inputs

Below are the key issues, root causes and solutions related to fake currency as outlined by you. Kindly review and share any additional specific solutions that should be implemented to address this problem. We look forward to your inputs!

Indian Police Foundation

Fake Currency Notes – Solutions

1.Bigger denomination notes should be discontinued
2.Plastic money should be encouraged
3.Surcharges for use credit/debit cards should be waived off
4.General public should be educated on how to differentiate a genuine currency note with a fake one
5.Such public awareness programs should be done through press and TV at regular intervals
6.In Surkashit Bharat city circles, citizens should be able to report fake currency issues and local police should respond to them
7.Equipment to detect fake notes should be made available easily and at a cheap cost
8.Mobile apps could be developed to help people identify fake notes
9.Banks should be fined in case fake currency is obtained from their ATMs
10.The company manufacturing the rupee paper should be asked not to supply the exact paper to anyone else as per the contract
11.RBI should make newer and ‘tough to clone’ additions to currency notes
12.Specialized teams should be deployed in the sensitive border areas which are susceptible to currency smuggling
13.Vigilance should be increased and big prize money should be announced for informers while protecting their identity
14.Government should insist for currency identification machines at points where cash generation is high, such as places of worship etc.
15.Annual fee for debit card and credit card should be removed to encourage the users to reduce cash transactions.

Fake Currency Notes - Key Root Causes

1.Fake currency is a very profitable business for some
2.General public are not aware of how to distinguish between a genuine and fake currency note
3.Equipment to detect fake notes is not easily available
4.Bank employees let fake notes pass by so that they are not marked against them
5.The fake notes only get to the ATMs after they are passed by the bank staff
6.The smuggling of fake currency from the neighbouring countries is supported by the politically motivated
7.There is lack of enough intelligence reports to pin down the fake currency minting presses
8.Some police officers accept bribes and let the fake currency trade go on right under their nose
9. The company manufacturing the rupee paper should be asked not to supply the exact paper to anyone else as per the contract
10.Secrets leaked from security press should be considered a criminal offence
11.The high rates of debit/credit card charges are another reason why people prefer to use cash and unknowingly promote fake currency sometimes
12.There are discounts on cash payments offered, instead of it being the other way round
13.Very few cases of detection and siezing of fake currencies are reported as compared to the magnitude of the problem
14.Fake currency notes also circulate because of transactions being done in cash without any receipts
15.RBI has not taken many proactive measures to make the new currency tougher to clone.

Fake Currency Notes - Key Issues

1.Many bus conductors are sources of fake notes
2.Fake notes are easily exchanged large cash transaction like property transactions, hotel and restaurant industry, liquor business etc.
3.Some corrupt bank employees knowingly insert some fake notes into packets of 100 notes
4.Even the ATM dispenses fake notes sometimes
5.Big amounts of fake currency are smuggled in from countries like Pakistan, Nepal, Bangladesh etc
6.There are small rackets of printing fake note working in different parts of India
7.The company manufacturing the currency paper supplies it to multiple vendors
8.Employees working in the security press at times leak the secrets to outsiders. more  

View all 122 comments Below 122 comments
No where cash should be accepted more then 20K, denomination like Rs. 1000 & Five hundred should be withdrawn. Make cards & Net Banking more secured. This would help in control Fake currency. more  
Pl see http://cr4.globalspec.com/blogentry/27551/Counterfeiters-Can-Produce-Undetectable-Fake-U-S-Money?frmtrk=cr4digest&cid=nl&et_rid=618198277&et_mid=83188510 Counterfeiters Can Produce Undetectable Fake U.S. Money Posted August 31, 2016 6:25 PM by HUSH Pathfinder Tags: counterfeit currency printing supernote Add your own Tags! Cash is an interesting byproduct of contemporary economies. The assorted rectangles of ink and paper have wildly different values despite themselves being objectively worthless materials. Instead the numbers on the bills represent buying power. The U.S. dollar, which became the world’s reserve currency in 1947, was formerly backed up by a gold reserve. This practice was eliminated in the 1970s, as global recession meant international countries began exchanging their cash for gold, which reduced the influence of U.S. currency. Instead, the U.S. made a deal with Saudi Arabia and subsequently OPEC for all oil transactions to use U.S. money. This created a foreign demand for U.S. dollars, and this remains how U.S. currency retains international value today. Yet over the past 20-plus years, highly-advanced manufacturing and counterfeiting have also undermined the value of U.S. $50 and $100 bills, and remain a threat going forward. These notes are dubbed “supernotes,” as they of such high quality that they appear more authoritative than genuine bills. The supernotes are made of the same hard-to-produce material, a hybrid 75% cotton, 25% linen fiber paper blend. The notes are also printed by intaglio printing, where the metal plates have lines engraved or etched, which are filled with ink, and then are compressed to the paper. Intaglio printing also gives U.S. notes their rough texture as the inks dry just slightly above the surface of the paper. Most counterfeiting operations use cheaper, less effort-intensive printing techniques, such as inkjet, offset or laser printing, that cannot replicate the intaglio texture. These supernotes are also engineered to include security features. This includes the exclusive security microfibers found in current U.S. bills, as well as correct watermarks, security strips, and microprint lettering incorporated into real U.S. bills. Even the optically variable inks (OVIs), which cause bills to look green in one light or bronze or black in another, have been emulated. Typically, advanced OVIs and intaglio presses are only available to government agencies for document production. Of course, there are some very minute differences. The printed quality of supernotes sometimes actually exceeds that of a real note. For example, the hands on the clock tower of Independence Hall are actually sharper and more clear on a supernote, a lamp on the street nearby is better defined, and on the front of a supernote, the letter N in the word ‘United’ has a small font misprint. Nonetheless, supernotes are practically impossible to identify without instruments. Supernotes are confirmed by the U.S. Secret Service with mass spectroscopy, near-infrared analysis and microscopic inspection. Evidence suggests that North Korea was likely responsible for the printing and distribution of the notes, possibly beginning back in the 1970s. Motivations were hopes of undermining the U.S. economy, while also paying for goods and products with the fake money. North Korea has a well-known counterfeiting industry that includes narcotic and prescription drugs, cigarettes and designer brands. Another U.S. $100 bill redesign in 2013 has vastly slowed the discovery of supernotes. This Vice article suggests that North Korea has either abandoned printing counterfeit U.S. notes (in favor of Chinese notes, it seems) or they are now so good at it that fakes can’t be detected. Turns out, money is only as good as its manufacturing. more  
Government should pay more attention on cash less transaction every payment must be through bank account .keeping cash money over a certain limit should be a crime and seize the money without any tryal in court more  
AGREED WITH POINTS, IN ADDITION TO THIS CASH TRANSACTIONS SHOULD BE BANNED SPECIALLY IN HOTELS AIR TICKETS GOLD PURCHASE ETC. more  
Every thing is possible if the Government is poorly administered. more  
Post a Comment

Related Posts

    • Uber’s pathetic shunning of responsibility

      There has ought to be a limit to not taking responsibility. Uber in media (attached) said yesterday that they are just connecting driver and consumer and do not have any responsibility of your safe...

      By Shikha Chhabra
      /
    • China’s capturing of India territory questions

      Rahul Gandhi is spreading that China has refused to accept India’s demand of restoring status quo of April 2020. He further says PM has given 1000 Sq Kms of territory to China wit...

      By Amod Agarwal
      /
    • Rear Seat Belt Mandatory

      Shouldnt the Government first make all seats seat belt mandatory enforcement for every politician, official and Govt employee. Walk the talk and if you all follow it for 3 months, enforce on the na...

      By Nikita Mehra
      /
    • Swings in local melas and otherwise

      Yesterday a spinning wheel swing came crashing down injuring many children and adults in Mohali. See attached. I humbly request that BIS forms mandatory standards for these swings and th...

      By Harsimran Kaur
      /
    • National Highways in Bad shape

      A few hours back Cyrus Mistry, last Chairman of Tata Sons died in a road accident near Palghar in a Mercedes. He was coming to Mumbai from Ahmedabad. NHAI Road conditions is very bad fro...

      By Shivani Khiste
      /
    • Benefits of clean indoor air in school classrooms...

      1. Better cognitive function 2. Lower risk of inhaling SARS2 3. Lower risk of flu and other respiratory diseases 4. Less inhalation of wildfire smoke and air pollution 5. Less ...

      By Sujata Singh
      /
    • Whats going on with airlines

      2-3 spicejet incidents, go first incident then now Raipur Indor indigo flight and then vistara flight engine fails after landing in Delhi. Hope its not a set up as jhunjhunwala launches ...

      By Ankita Jain
      /
    • What airlines are you wary of from safety stand point?

      Excellent subject of survey from LocalCircles. Everyone may please vote and share. So many incidents in the last 3-4 days itself

      By Shivani Batra
      /
    • Too many spicejet safety incidents

      In last 6 months several spicejet safety incidents have come to light and todays flight to Jabalpur SG 2962 Q400 incident where smoke came inside aircraft was another one. Attached video.

      By Aditi Mitra
      /
    • Giving right of way to emergency vehicle

      When traffic comes to a halt in Germany, drivers by law must move to the edge off each side to create an open lane so emergency vehicles like ambulance, fire brigade can pass . This type of road ed...

      By Sarita Ravichandran
      /
    • Masking in flights or on no fly list

      Great work circle members and LC manager in getting Govt to act against people who dont mask on flights. Attached notification has been issued and if anyone is not masking on flight and at airport...

      By Vinita Agrawal
      /
Share
Enter your email and mobile number and we will send you the instructions

Note - The email can sometime gets delivered to the spam folder, so the instruction will be send to your mobile as well

All My Circles
Invite to
(Maximum 500 email ids allowed.)