Nepal | May 30, 2020

Counterfeit currency racket remains active despite police crackdown

Himalayan News Service
Share Now:

Kathmandu, January 10

Racketeers are active in printing and circulating fake Nepali currency notes in Kathmandu valley.

Police arrested four persons with fake Nepali banknotes having face value of Rs 413,000 from Gongabu yesterday. Those taken into custody were Kamal Budhathoki, 29, of Salyan, Bal Bahadur Rana Magar, 32, of Kavre, Aryan Khadka, 24, of Doti and Chhatra Bahadur Limbu, 36, of Dhankuta.

According to Central Police New Section, they came to Kathmandu with the sole purpose of printing and pumping fake currency notes into the market for fast buck. The gang used to scan original notes and print them on A4 size paper. Police confiscated a colour photocopier, CPU and A4 size papers from their rented rooms in Machhapokhari.

On 10 February 2019, police raided two rented rooms in a house at Ganeshthan of Tokha  Munuicipality-10 and confiscated counterfeit Nepali currency notes worth  Rs 150,000. Four Bangladeshi nationals were held with fake Nepali currency notes having face value of Rs 18,000 from Lokanthali of  Bhaktapur on 23 December 2019.

Six persons were arrested with counterfeit Nepali currency notes having face value of Rs 26.06 million from different places of Kathmandu and Lalitpur on 15 May  2018. That was the biggest ever single seizure of fake Nepali banknotes in the country.

The racketeers used to circulate the fake banknotes through drug traders and various persons in their contact to pay hotel and restaurant bills and sex workers and for gambling. They circulated fake notes by tucking them between genuine ones, said a report of Metropolitan Police Range. The same year police had arrested five persons for allegedly printing and circulating fake Nepali banknotes in Kathmandu Valley.

Security personnel on 26 February 2018 had arrested five persons for printing and circulating fake Nepali banknotes in the valley. Fake notes worth Rs 22,000 were seized from them.

Deputy Superintendent of Police Hobindra Bogati at MPR said a meticulous observation was required to identify fake notes. Genuine note is felt rough when you run your fingers through it, but fake notes lack this feature. Generally, fake Nepali currency lack raised watermark, words and metallic thread — the permanent features of a genuine banknote.

MPR has appealed to all to be cautious while carrying out cash transactions. DSP Bogati said racketeers often circulated fake notes by tucking them between genuine ones during late hours of the day. The racketeers target unsuspecting shopkeepers and buy goods during evening, night and use fake notes to make payment.

 


A version of this article appears in print on January 11, 2020 of The Himalayan Times.


Follow The Himalayan Times on Twitter and Facebook

Recommended Stories:

More from The Himalayan Times:

Are we doing enough for the mental health of healthcare workers?

The number of coronavirus patients has been increasing over the past few days in Nepal. In the current scenario, it seems like the numbers would further increase in the coming days. Given that healthcare workers and frontline staff are the first responders to manage the ongoing pandemic with limited Read More...

Italy's Serie A gets green light for June 20 restart

Sports minister Spadafora says top-flight soccer can resume Italian Cup matches could be staged before league restarts Serie A will be fourth of Europe's top five leagues to return Juventus hold one point lead over Lazio with 12 games left ROME: Italy's top-flight Serie A soccer le Read More...

English Premier League announces June 17 restart

League to resume season subject to safety requirements Starts with Villa v Sheffield Utd and Man City v Arsenal Full fixture list scheduled for weekend of June 19-21 All of the remaining 92 fixtures to be broadcast live MANCHESTER, ENGLAND: The Premier League season will restart Read More...

UN, AI demand impartial probe into Rukum incident

Kathmandu, May 28 The attention of United Nations in Nepal has been drawn to the incident in Rukum (west), where five Dalit youths lost their lives and two went missing when the Dalit youths were chased by a group of villagers. The Dalit youths had gone to the village to help their friend marry a Read More...

‘Nepali Congress will support new map of Nepal’

Kathmandu, May 28 Nepali Congress Spokesperson Bishwa Prakash Sharma said at a press conference today that his party would stand in favour of the newly issued country’s map when the issue would come up in the Parliament but the party had reserved the right to take an organisational decision on Read More...

SC rules lockdown time as zero period  

Kathmandu, May 28   The Supreme Court today ruled that the period between March 22 and the time when the lockdown would end should be considered zero period for those whose deadline for filing or contesting cases or joining court proceedings had lapsed.   The grand Full bench of the apex Read More...

Zuckerberg distances Facebook from Twitter in Trump fight

SAN FRANCISCO: Facebook Chief Executive Mark Zuckerberg took pains to distance his company from Twitter and its fight with US President Donald Trump on Thursday, as the White House moved to scrap a law protecting social media companies. Republican Trump, who accuses social media firms of b Read More...

Budget size reduced by 3.8pc to Rs 1.47 trillion

Due priority given to health, employment generation and relief for crisis-hit businesses Khatiwada sets 7pc growth target for next fiscal Kathmandu, May 28 Amid uncertainties due to the spread of COVID-19 in the country, Finance Minister Yubaraj Khatiwada today unveiled a federal budget Read More...