What to do if you get a fake note from ATM's? So in this blog, we tell you, what to do on receiving fake notes from the ATM or while making cash transactions. According to the law, circulating fake notes in the market is punishable with imprisonment. Some try to pass it on, just to get rid of it. Many people are not aware on what has to be done when they receive a fake note. Last year there were incidents where people received fake notes from the ATMs of State Bank of India and United Bank of India. The shocking part is many citizens received fake notes even while withdrawing cash from ATMs. Demonetization has not solved the problem of fake notes in India.įake notes have been detected in many places even after demonetization.
Retrieved 20 November 2016.What To Do If You Get Fake Note? Research Team | Janu4:57:pmĪfter demonetization, many citizens believed that there were no more headaches of fake or counterfeit notes, as Rs 500 notes were replaced by new ones with a completely different design, and the new 2,000 rupee notes were introduced. ^ "Economic terror forced Modi to abolish Rs 1,000 notes | Business Standard News".^ "Demonetisation hits fake currency trade through Indo-Bangla border".^ "Ban on Rs 500-Rs 1000 notes: Big blow to FICN racketeers of India-Bangladesh border".^ "Pakistan, the biggest contributor of fake Rs 500, Rs 1000 notes PM Narendra Modi's historic move justified - The Economic Times".^ "NIA busts Nepal-linked FICN racket arrests kingpin from Delhi : PTI feed, News - India Today".^ "Rs 10 mn fake Indian currency seized in Nepal | India".^ "Counterfeiting to be made a terrorist crime".^ "Mere possession of counterfeit notes does not amount to crime".^ "Pakistan officially printing fake Indian currency notes", 6 November 2013,.Archived 5 December 2014 at the Wayback Machine ^ "Tell-tale signs of fake currencies in Hyderabad".^ a b "RBI plans to gradually replace Rs.^ a b "Labourers being used to smuggle Pakistan-printed FICNs to Hyderabad".The terrorists are using it to cripple the Indian economy and to create economic terror. The money mainly flows from Nepal, Pakistan and Bangladesh. Terrorism įake Indian notes are mainly used in terror related activities. The Indian government intends to classify offences involving high-value FICN as terror acts, with an amendment to the Unlawful Activities (Prevention) Act. Legal aspect Īccording to Indian law, possessing fake notes is a punishable offence, but only if the person in question is aware that the notes are fake.
In recent times it has been reported that FICN match 10 out of 14 security parameters adopted by the Indian government, with suggestions that the highest quality fakes could have only been produced by a nation state. In counterfeit notes, the printed lines will be broken and there may also be ink smudges. Spreading of ink, smaller or bigger number, inadequate gaps, and different alignments in numbers should be regarded with suspicion. The alignment of figures is also difficult to maintain. Forgers find it difficult to reproduce the same shape of individual numbers again and again with accuracy. But in fake notes, the security thread is imitated by drawing a line with a pencil, by printing a line with grey ink, or by using aluminium thread while pasting two thin sheets of paper. In genuine notes, the security thread is incorporated into the paper at the time of manufacture. Then oil, grease or wax is applied to give the picture a translucent feel.
In counterfeit notes, the watermark is made by using opaque ink, painting with white solution, stamping with a dye engraved with the picture of Mahatma Gandhi.
Currency printed by local racketeers can be detected easily as they use the photographic method, hand engraved blocks, lithographic processes and computer colour scanning. Although fake currency is being printed with precision, the Crime Investigation Department (CID) says that they can be detected with some effort.
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