Srinagar, Mar 13: The police in Jammu and Kashmir’s Shopian district said on Friday that it has cracked a fake currency racket and three persons have been detained in this connection.
A police statement said, “The police in Shopian district have busted a fake currency circulation racket and recovered counterfeit notes worth Rs 79,000 following a complaint lodged by a local shopkeeper.”
“The action led to the arrest of three persons involved in circulating fake currency notes in the area as the police registered a formal case and launched further investigation to trace the origin of the counterfeit money.”
“The case surfaced after a shopkeeper approached the Shopian Police Station, reporting that an individual had used fake currency notes while purchasing goods from his shop earlier this week,” the police added in a statement.
“Police officials said the complaint triggered an immediate investigation, with officers launching verification of the suspected transaction and identifying individuals allegedly linked to the circulation of counterfeit currency.”
“During the course of the probe, police conducted searches and recovered fake currency notes amounting to Rs 79,000 from the possession of the accused persons and their associate.”
“The arrested individuals were identified by police as Mohd Syed Wani, a resident of Batpora village in Shopian; Mohd Maqbool Naikoo, a resident of Bungam village in Shopian; and Peerzada Altaf, a resident of Tukroo Babnad village in Pulwama.”
“All three suspects have been formally taken into custody. Police have registered an FIR in the case at the Shopian Police Station under relevant sections of law, and further investigation is underway. Investigators are now working to determine the source of the counterfeit currency and whether the accused were part of a larger network involved in the circulation of fake notes in the region.”
The police is also examining possible links that could lead to other individuals involved in the supply or distribution chain of counterfeit currency, the police said in the statement.
“The recovery highlights the continued risk of fake currency being circulated in local markets, where unsuspecting shopkeepers and customers can easily become victims of such illegal activities.”
“Meanwhile, police urge residents and traders to remain cautious while accepting cash payments and to immediately report any suspicious transactions.”
“The Shopian Police also appealed to the public to stay vigilant and cooperate with law enforcement agencies in identifying and reporting cases involving counterfeit currency,” the statement added. (Agencies)
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