High value currency notes push up value of seized counterfeits

New Delhi: The combined face value of the counterfeit notes seized by Delhi Police this year has already exceeded last year’s figure, latest NCRB data shows. Delhi accounted for the highest seizure of fake notes in the country last year.

NCRB records show that notes of 16 crore face value were seized across the country in 2016. As per the data, 1.14 lakh of these notes were seized in Delhi. This was followed by Gujarat where 39,725 notes (worth ₹2.37crore) and West Bengal with 32,869 notes (of ₹2.32 crore face value) were seized. These seizures include the ₹500 and ₹1000 notes which were taken out of circulation by the government.

Data shows that the amount seized in Delhi was nearly a third of the overall seizures in the country in the year.

However, the amount seized this year, till November 15, is higher than the overall figure last year. A senior police officer said that notes with face value of Rs. 6.47 crore were seized between January 1 and November 15.

Asked about the increase in the amount, the officer said it was primarily because of the fact most of the seized notes have a face value of ₹2,000.

“Very few, almost negligible number of number of seized FICN were of ₹500. So even though fewer notes were seized the numbers go up,” said the officer explaining the mismatch.

He also added that despite the amount being higher the number of cases has dipped sharply compared to 2016.

While 80 cases of fake currency were reported last year, this year 44 such cases have come to light so far.

This month, in one of the major seizures, police recovered ₹6.6 lakh in counterfeit currency of ₹2,000 denomination. The Special Cell had arrested one man in the case who was smuggling bundles of “high quality” fake notes.

NCRB RECORDS SHOW THAT NOTES OF 16 CRORE FACE VALUE WERE SEIZED ACROSS THE COUNTRY IN 2016. AS PER THE DATA, 1.14 LAKH OF THESE NOTES WERE SEIZED IN DELHI DEPENDRA PATHAK, chief spokesperson, Delhi Police