Fake Currency Notes - Inputs Needed on Solutions

Below are the key issues and root causes related to fake currency as outlined by you. Kindly review, share specific solutions that must be implemented to address them. We look forward to your inputs!

Indian Police Foundation

Fake Currency Notes - Key Root Causes
1.Fake currency is a very profitable business for some
2.General public are not aware of how to distinguish between a genuine and fake currency note
3.Equipment to detect fake notes is not easily available
4.Bank employees let fake notes pass by so that they are not marked against them
5.The fake notes only get to the ATMs after they are passed by the bank staff
6.The smuggling of fake currency from the neighbouring countries is supported by the politically motivated
7.There is lack of enough intelligence reports to pin down the fake currency minting presses
8.Some police officers accept bribes and let the fake currency trade go on right under their nose
9. The company manufacturing the rupee paper should be asked not to supply the exact paper to anyone else as per the contract
10.Secrets leaked from security press should be considered a criminal offence
11.The high rates of debit/credit card charges are another reason why people prefer to use cash and unknowingly promote fake currency sometimes
12.There are discounts on cash payments offered, instead of it being the other way round
13.Very few cases of detection and seizer of fake currencies are reported as compared to the magnitude of the problem
14.Fake currency notes also circulate because of transactions being done in cash without any receipts
15.RBI has not taken many proactive measures to make the new currency tougher to clone.

Fake Currency Notes - Key Issues

1.Many bus conductors are sources of fake notes
2.Fake notes are easily exchanged large cash transaction like property transactions, hotel and restaurant industry, liquor business etc.
3. Some corrupt bank employees knowingly insert some fake notes into packets of 100 notes
4.Even the ATM dispenses fake notes sometimes
5. Big amounts of fake currency are smuggled in from countries like Pakistan, Nepal, Bangladesh etc.
6.There are small rackets of printing fake note working in different parts of India
7.The company manufacturing the currency paper supplies it to multiple vendors
8.Employees working in the security press at times leak the secrets to outsiders
more