Online sale of fake notes is rampant, ring active ahead of Eid

BD Digest Report

The sale of fake currency is going on openly on social media. Pages and groups are being opened on various online platforms including Facebook and Telegram. There, fake notes ranging from 50 taka to 1,000 taka are being sold with tempting offers. These scams are also promising courier or ‘home delivery’ once the order is placed.

The investigation has shown that such campaigns have increased ahead of the holy month of Ramadan and Eid-ul-Fitr . This is because market transactions increase during the festival. These groups become active, calculating that fake notes can be easily distributed during busy times.

Advertising on Facebook

Recently, a Facebook page called ‘Jal Taka Karbar’ has posted a post selling fake notes ranging from 50 taka to 1,000 taka. It mentions, “A-grade products with perfect and smooth print are available ahead of the holy Eid. Courier and home delivery arrangements are available within 24 hours.”

Several other such pages and groups have been found, with names like ‘Fake Money Sold’, ‘Real Fake Money’, ‘Fake Money Sale’ or ‘Dealer Fake Money’. These pages are trying to attract potential buyers by posting regularly. In some cases, the posts are also being boosted by spending money to reach more people.

Apart from this, it is known that similar activities are going on in various groups on Telegram called ‘fake money’, ‘fake money transactions’ or ‘fake money sale groups’.

A lakh taka note arrives with advance payment

According to information provided online, it costs between 10,000 and 25,000 taka to get a fake note of 1 lakh taka. Usually, an advance payment of 5,000 to 8,000 taka is made through mobile banking. The fake note is then sent by courier within two days. The remaining amount has to be paid after receiving the note.

It is being claimed that if you order a higher denomination note, you can pay less upfront. For example, for a fake note of two lakh taka, you have to pay an advance of eight to ten thousand taka.

Fraud even in small notes

Law enforcement agencies say that earlier, mainly 500 and 1,000 taka notes were counterfeited. But now, counterfeiting of small notes is also increasing. Because people usually check large notes carefully, but transactions are often made without looking at 50, 100 or 200 taka notes.

Traders said that due to the increased number of buyers during the Eid season, transactions have to be done quickly. This makes it difficult to verify each note. It is this opportunity that the gangs introduce fake notes into the market.

Traders have also said that the presence of counterfeit notes has recently increased in markets, shopping malls, iftar markets, and busy commercial areas in various districts and cities, including the capital.

Made using technology

The investigation revealed that laptops, printers, software and various types of paper are being used to produce fake notes. Notes are being printed one after another very quickly using digital files.

Recently, the Rapid Action Battalion (RAB ) raided a flat in Dolipara, Turag, in the capital and recovered fake notes worth around Tk 2.6 million. Two students were arrested in the incident. During interrogation, they said that they had learned the techniques of making fake notes from watching YouTube and various online sources.

More than fifty groups are active.

Intelligence sources say that at least fifty groups across the country, including the capital, are involved in making and marketing fake notes. One group makes the notes, another supplies them, and another distributes them in the market.

Law enforcement officials say these gangs become more active during festivals.

Shafiqul Islam, Additional Commissioner of Dhaka Metropolitan Detective Police , said that there is a tendency for counterfeit money rings to become active around the festival. Therefore, surveillance has been increased on online platforms as well.

MZM Intekhab Chowdhury, Director of the Legal and Media Wing of the Rapid Action Battalion , said that surveillance against counterfeit money dealers has been intensified since before Ramadan. RAB’s cyber monitoring team is keeping a round-the-clock watch online.

However, the question remains – why is it not being stopped quickly despite the sale of fake notes through public advertisements on social media? According to those concerned, it is difficult to stop this trend without stricter monitoring of online platforms.