New Banknotes Featuring July Uprising Imagery Fuel Counterfeit Currency Trade, Putting Businesses and the Public at Risk

❐ Staff Reporter

Information is coming to light one after another about the counterfeit currency business in the northern regions, including Rajshahi. Cases of making counterfeit money by renting out houses have also been detected.

There are allegations that fraudsters and businessmen are exploiting the circulation of new notes in the market, created in the spirit of July 24. This is increasing the risk of financial losses for businessmen and the general public.

Traders, including those selling new notes, commonly call these notes ‘chhapari notes’ due to their poor quality printing. Many people are easily fooled by fake notes as the design of these notes is unfamiliar to them.

According to senior law enforcement officials, counterfeit currency activity is high in the border areas of Chapainawabganj, Rajshahi and Naogaon. Along with drug trafficking, these notes are also being used for fraud. Especially since people are not familiar with the new notes, opportunities for fraud are being created.

According to information provided by the police, on October 14, Rajshahi Metropolitan Police (RMP) arrested two people on charges of buying gold chains with fake notes in Sahebbazar, Rajshahi. Earlier, on August 8, SRB-5 conducted a raid in Chapainawabganj and recovered fake notes and note-making equipment worth Tk 43,45,600 from different countries.

On June 28, police arrested a man with fake notes worth Tk 93,000 in Mohanpur, Rajshahi. In addition, SRB-5 arrested a businessman named Mostafa Ali (42) with fake notes worth Tk 79,500 in Baraigram, Natore. He was arrested in a raid in the Rajapur Bazar area of ​​the upazila last Thursday night.

Regarding the fraud that took place on September 27 at Asha Jewelry in Sahebbazar, Rajshahi city, Officer-in-Charge (OC) of Boalia Police Station, Machuma Mostari said that a man, posing as an army member, took a gold chain worth about Tk 115,000 from the shop. He gave 115 new Tk 1,000 notes to pay the price. When the shop owner’s father went to a nearby shop to have them checked, the notes were found to be fake. Before that, the accused left with the chain.

After investigating the incident, the police arrested Md. Riazul Islam from Khilkhet, Dhaka on October 13. Based on the information he provided, Md. Roman, the owner of a jewelry shop in Dhaka, was also arrested on the same day. The chain taken from the shop in Rajshahi was recovered from them.

The initial police investigation further alleges that the same person took a gold chain with a fake note of Tk 1 lakh 22 thousand at Tamanna Jewelers in the New Market area of ​​Bogra on October 6.

Police said the chain from Bogra has also been recovered. Initial investigations suggest that the gang has used the same tactic to defraud multiple cities.

On the night of August 8, RAB-5, now SRB, conducted a raid in the Balubagan area of ​​Chapainawabganj Municipality and arrested two people. Fake banknotes worth Tk 43,45,600 from different countries and note-making equipment were recovered from them.

SRB-5 commander Lieutenant Colonel Faisal Ishtiaq said, “Initially, it was learned that fake notes were being made in a rented house and sent to different parts of the country. A case has been registered in this incident. Investigation is underway to identify others involved.”

On June 28, RAB-5 conducted a raid in the Kesharhat Bazar area of ​​Mohanpur, Rajshahi and arrested a person named Nayeb Ali with fake notes worth Tk 93,000 and 387 Yaba tablets.

Law enforcement officials said another person fled at that time. Rajshahi Range DIG Ashiq Saeed said efforts are underway to identify the main source, supplier and money flow associated with the counterfeit currency business.