Express press service

KOCHI: Many people would have encountered counterfeit currencies, but would not have understood that they were counterfeit currencies. This is perhaps the main reason why counterfeit banknotes are entering society.

Following the recent seizure of counterfeit banknotes from two people in the city, police have stepped up their activities to catch any suspects involved in the distribution of counterfeit notes.

On Tuesday, a joint operation by the Anti-Terror Squad and Elamakkara Police arrested Vipin Tomy, 25, from Elamakkara, and Suhail, 26, from Kaloor, Edappally and Kalamassery respectively, with counterfeit money .

The police seized 20 counterfeit currencies – with a face value of 500 rupees each – from the accused during the arrest. Later, counterfeit coins – of Rs 500, Rs 200, Rs 100 and Rs 50 – with a total face value of Rs 42,350 were seized from their homes. The printer and other machines used to print the tickets were also seized. “The defendants are now in custody and the investigation is ongoing,” police said.

Explaining their modus operandi, police said one of the defendants managed to take the photocopies of the banknotes. The other person then went to various places like Wayanad and Idukki and smuggled the change as real money in small shops. Since there is no system to detect counterfeit banknotes in these stores, the defendants got away with it. “If he could spend a counterfeit note of Rs 200, he would receive Rs 150 as compensation. If the police hadn’t caught them, they would have become a big racket,” one officer said.

Meanwhile, Kochi City Police Deputy Commissioner VU Kuriakose said those arrested were operating on their own. “Their projects were just in their infancy. However, we have received information about other such activities in the city. A special team has been deployed to control these illegal activities,” he said.

Last year, Panangad police arrested Anshad, 32, from Eravipuram, for allegedly using counterfeit banknotes in financial transactions. A supply store owner in Nettoor who identified the counterfeit note raised an alert and police caught him in the act. Four counterfeit notes of Rs 500, which were photostats of original banknotes, were recovered from him. Rural police had also busted a big racket in Elanji near Koothattukulam. Eight people have been arrested in this case and an investigation is still ongoing.

The lack of awareness and mechanism to perform testing makes it easy for offenders to get away with counterfeiting.

Rajesh Ramakrishnan, a shop owner at the GCDA complex in Kochi, said small shop owners who do not have currency counting machines are vulnerable to such fraudulent practices. “The counterfeit Rs 500, Rs 100 and 200 notes can be exchanged easily. Police and other authorities should ensure effective means to ensure people identify them,” he added.