Eid market and fake currency notes

FAKE currency notes are overcrowding the market ahead of Eid-ul-Fitr poising big threat to shoppers in the city malls and other marketplaces. As it appears currency syndicates have already spread network all over the country to pump fake notes in the marketing channels using big businesses and even some bank branches as gate way for exchange of fake notes under the cover of hefty business. This is a dangerous trap to deceive people of their good money against fake money. We call for highest vigilance of law enforcers and shoppers at all levels against such organized crime.

Market disclosure said currency gangs have so far circulated millions of taka fake notes across the country. What appears surprising is that law enforcers are yet to make any raid on their hideouts and arrest syndicate members while complaints are galore that sellers and buyers are falling victims to fake notes of Tk 100, 500, and 1000 denominations in most marketplaces. It is unfortunate counterfeit currency notes are making easy way; as syndicate members are using every cunning way. Police know the presence of the syndicates and identity of their members. Even their hideout is not unknown where they produce fake notes and how they put them to marketing channels.

Many blame a nexus is at work between a section of the law enforcers and syndicate members who operate under the shelter of powerful people and local goons having link to ruling party politics. Reports said printing and circulation of fake notes take place in three phases. One group procures and supplies specialized papers while another group prints the counterfeit notes. The third group circulates notes in the market.

In many cases syndicate members are overtaking bank branches and ATM booths as they are also digitalized to a large extent. We must say the vigilance and outreach of our detective police must further strengthen to destroy the syndicates in their hideouts. We also say city malls and marketplaces must have greater vigilance and easier access to detection machine of fake notes at every shopping counter and at such other places.

There is a big question why syndicate members get bail from court so easily to join the trade again. It is almost a mastery how they get bail and who work from behind to make their bail easier; it is something that needs to be properly investigated. Allegations are thereabout it over the years but there is no follow up action. We know that counterfeit notes are big threat to our economy and protection to business. It is a big threat to the nation and needs to be destroyed at any cost.