Fake currency business going smoothly

IN every year ahead of the Eid festival criminal gangs become more active in circulating fake currency notes to shopping malls, as the shoppers transact large amounts of money to purchase new clothes, ornaments and valuables, and the criminals take this opportunity. A vernacular daily carried in a report titled “Spreading forged notes ahead of Eid” said the criminals usually come out to forge large denomination notes like Tk 1,000 or 500 notes, but now Tk 100 fake notes are also being counterfeited. The local gangs linked with regional and international gangs are involved with counterfeiting currency because printing fake currency is less risky and results in quick profits. Even if they are caught by the law enforcers, they can get out through the loopholes of our law and become active again in their unethical business.
For the people and traders, the joy and celebration of Eid fades due to the anxiety of falling victim to such crimes. The problem reaches a new height when people see automated teller machines of several commercial banks cashing out forged notes and there is no authority where one can lodge complaints to which dampen the spirits of the victims. It is often not possible for common people to check each and every note during trading and transiting, though their negligence costs them much sometimes. The report said the central bank had taken several initiatives to make people aware so that unscrupulous people could not take advantage of their apathy. The central bank in their branches outside the capital has arranged for several training programmes for the officers concerned of several commercial banks on the methods to detect fake notes and the best technologies which can be used, the report added.
The gangs, who forge and circulate currency, are well-informed about the shortage of modern technology to detect fake currency in the local branches of several commercial banks in local areas. They easily target the local branches to engage in their dishonesty and in this way they deposit their counterfeit bank notes into the secured bank vaults, which are circulated later by the banks themselves. Moreover, unwary local people in the countryside cannot detect the fake notes, and wish to have new bank notes ahead of Eid to give as gift to their dear ones and thus allow themselves to become victims of the unscrupulous gangs’ traps.
Our law enforcing agencies could be lauded for their successes in unearthing such criminal groups, but their work is far from over as it is believed that number of detainees is a small fraction of the organized gangs. Through strict vigilance, informed intelligence and thorough investigation, the gangs must be unearthed and given exemplary punishment so as to deter others from becoming involved in such crimes in future.
Because the authorities need not feel accountable and that is the reason why crime of every kind is on the increase. When the wrong-doers are said to be arrested, we are not sure if opportunities are not created for other to do new crimes.