India’s National Investigation Agency (NIA) will train nearly 200 Bangladesh police officials in detecting Fake Indian Currency Notes (FICN), officials have said, Agencies report. NIA officials said on Monday that 80 percent of the counterfeit Indian currency pumped into India was routed through Bangladesh.
In the last few years, Bangladesh agencies have cracked down on these rackets and made large seizures including seizing shipping containers loaded with fake currency at Chittagong port.
“They (Bangladesh agencies) are keen to help us. But they need some training to detect these fake notes,” said an NIA official. But he was not willing to be named. He said that the Reserve Bank of India (RBI), Department of Economic Affairs and Home Ministry, will join the NIA in training the officers from Bangladesh.
“We also propose sharing real time intelligence to curb this menace,” the NIA official said. NIA and RBI estimates that Pakistan’s intelligence agency ISI has pumped in tens of billions of fake Indian currency into the country as part of its economic warfare plan so far.
“Most of it was routed through Bangladesh, where well-organised rackets have sprung up. They run agents in border areas of the two countries and everyone make a big cut,” said a RBI official.
Indian authorities have barely managed to track down one-third of the fake currency pumped into the country. Bangladesh has already assured India of full cooperation in tackling this problem but expected technical support and training.
India will also provide note sorting machines with facility to detect fake currency at international airports, integrated crossing points, immigration points, banks and financial institutions in Bangladesh.
India has also assured Bangladesh that it will help in setting up a Forensic Science Laboratory for examining fake notes and maintaining a digital depository of forensic reports.