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Checking counterfeit currencies in circulation is going to be a major challenge to the police, banks, and the general public

Counterfeit currencies in circulation will be a big menace the police and other intelligence agencies need to grapple with in the coming days in the district following yet another seizure of Rs. 2.70 lakh fake notes at Udumalpet on Monday night.

Though ruling out any nexus between the three persons arrested at Udumalpet with organised producers of super quality counterfeit notes that comes from abroad through states like West Bengal, the police officials told The Hindu that one of the accused had a case pending against him for similar offence.

The biggest problem encountered by police is that before any gang could be arrested a good chunk of the fake currencies would have been traded for goods injecting them into the system.

Absence of advanced note sorting machines at many banks, despite specific guidelines/instructions from Reserve Bank of India, is making detection of counterfeit notes difficult even during banking transactions.

The seizure at Udumalpet was the biggest catch in the district since the arrest of S. Mohammed Ashraf (25), Mohammed Sadam Hussain (22), and Abdul Rahib (50), all hailing from Malda district in West Bengal, with fake notes having a face value of Rs. 2.45 lakh on October 31, 2010.

There had been many cases in which counterfeit currencies detected in banking transactions, including those detected in the remittances received at three branches of State Bank of India in the district last year, days after such notes were traded across the counters.

Prior to it, counterfeit currencies were found in a bunch of notes sent by Canara Bank branches at Perumanallur and Avinashi to the chest branch.

On another occasion, the police seized Rs. 48,500 of counterfeit notes from youth from West Bengal staying in Tirupur city in which original notes worth Rs 1.71 lakh too were seized which was amassed by trading counterfeit notes for original currency and goods.

The Superintendent of Police, Tirupur, V. Balakrishnan told The Hindu that people coming across any suspected currency note should immediately inform him on phone 0421-2470044 so as to prevent the currency note from getting circulated further.