Economic warfare may be an old game the Germans started in the 30s, printing enemy country currencies to destroy their economy.
Now, Indian currencies are printed in Pakistan. The report submitted by the government prior to the Asia-Pacific Group (APG) annual meeting on money laundering here in July had wanted a tab on Pakistan’s strategy to route the fake currencies into the country through Nepal, Bangladesh, UAE, Sri Lanka and South-East Asian countries like Thailand and Malaysia. It said roughly four out of every 1,000 currency notes in the country was fake.
The latest analysis of trends of fake notes done by various probe agencies says that from January to July this year, seizures in Kerala and Lakshadweep were to the tune of just Rs2.1 lakh. There have been no major seizures and those through banking channels were much lower. Coastal area seizure was just worth Rs1.5 lakh.
Besides migrant labourers who are agents, it is big game with money routed through UAE, especially to areas like Malappuram and Chavakkad where the centres work under the façade of clinics or treatment centres. Some visitors are carriers of fake notes.
The state government has handed over cases of fake currency seizures to the National Investigation Agency. The NIA superintendent of police, Mr Sunil I, who heads the probe into the Rs8.9 lakh woth notes seized from Taliparambu in Kannur, says the agency was looking into various links in the case.
The former Coast Guard director-general, Mr Prabhakar Paleri, says Kerala is generally a peaceful state and can be a safe destination for the landing of such notes that are sent out, especially from UAE