LUCKNOW: The Uttar Pradesh Anti-Terrorist Squad (ATS) has arrested two men allegedly involved in the smuggling and circulation of high-quality counterfeit Indian currency notes, recovering 201 fake Rs 500 notes with a total face value of Rs 1,00,500.The arrests were made in Lucknow on August 7 following intelligence inputs about a suspected network allegedly bringing counterfeit Indian currency into Uttar Pradesh through the India-Bangladesh international border in Malda, West Bengal, and circulating it in different districts of the state.The arrested suspects have been identified as Azim Khan, son of Mujim Khan, and Raja alias Sameerul, son of late Ahmad Hasan. Both are residents of Ganeshpur village under Ganjdundwara police station in Kasganj district, according to the ATS.According to the ATS, 201 counterfeit Rs 500 notes, collectively valued at Rs 1,00,500, were recovered from the two accused.The agency said the seized notes were examined according to parameters followed by the Reserve Bank of India (RBI) and appeared, at first glance, to be of high quality.The quality of the counterfeit notes has raised concerns among investigators about their possible circulation through an organised network rather than their use as isolated fake currency.The ATS said it had received intelligence inputs indicating that some people from Uttar Pradesh were allegedly procuring high-quality counterfeit Indian currency from the Malda region along the India-Bangladesh international border in West Bengal and transporting it to Uttar Pradesh for circulation.Investigators suspect that the network may have been operating across state and international-border routes to introduce counterfeit currency into the financial system.The ATS said the circulation of high-quality counterfeit currency could potentially harm the country’s monetary stability and could also be used for anti-national activities.Acting on the intelligence inputs, the UP ATS conducted an operation and arrested the two suspects in Lucknow on August 7.During the operation, the counterfeit notes were recovered from their possession. Investigators are now questioning the accused to establish the source of the fake currency, the route through which it allegedly entered the country and the individuals or groups involved in its transportation and distribution.The agency is also examining whether the accused had previously circulated counterfeit notes in Uttar Pradesh or other parts of the country.The UP ATS has registered a case against the two accused under relevant legal provisions at the ATS police station in Lucknow and initiated further legal proceedings.Investigators are probing the wider network behind the alleged counterfeit currency operation, including its source, financiers, couriers and intended recipients.
