Fake Currency Network Exposed in Ahmedabad as Banks Detect ₹5 Lakh in Forged Notes
A suspected counterfeit currency racket has come to light in Ahmedabad after multiple banks reported the detection of fake notes with a total face value of nearly ₹5 lakh, officials said on Tuesday.
According to preliminary findings, forged currency notes were identified across at least 15 bank branches during routine verification processes. Bank officials flagged inconsistencies in printing quality and security features, prompting a wider investigation into the source of the counterfeit money.
Police suspect that the fake notes were gradually deposited into the banking system in small amounts to avoid immediate detection, indicating a well-planned and organized operation. Authorities are now examining CCTV footage and transaction records to trace the individuals involved.
Officials stated that over 1,400 counterfeit notes have been recovered so far. Investigators believe the racket may be linked to a larger network operating across multiple cities, though this is yet to be confirmed.
Law enforcement agencies have registered a case and launched a detailed probe, focusing on identifying the origin of the fake currency and any distribution channels used to circulate it. Coordination with central agencies is also being considered to determine whether the operation has interstate or international links.
The incident has raised concerns about the circulation of counterfeit currency and the need for stricter monitoring mechanisms within financial institutions. Authorities have urged banks and the public to remain vigilant and report any suspicious transactions.
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