War on terror funding started five months ago in Bangladesh

It's no secret that FICN (Fake Indian Currency Notes) are being used by Bangladesh-based terror groups to fund terrorist activities in India. But recently these groups have been feeling the heat. According to intelligence sources, an ongoing "war on terror funding" in Bangladesh, which began five months ago in July this year, has been yielding good results.

Data from security agencies reveal that in July, FICN counterfeiters—operating on the India-Bangladesh border—would sell one lakh fake currency notes for 20,000-25,000 Indian rupees. Today, the self same counterfeiters sell the same one lakh fake currency for Rs 40,000. This suggests counterfeiters are bleeding their pockets dry, thus affecting terror and terrorism activities in both countries.

Security officials confirm this to be the case. A senior NIA official explained to DNA just what danger the FICN networks had been posing to the country: "For years the FICN syndicates have been working in areas along the India-Bangladesh border, where they provided tacit support to terror groups. FICN is important to terror groups as it gives them the power to purchase weapons and a chance to hit the Indian economy where it hurts most."

One of the big reasons for success in stamping out FICN has been the increasing cooperation of the Bangladeshi authorities. Intelligence agencies point out that July 1 terror attack where terrorists opened fire at the Holy Artisan Bakery in Gulshan Park in Dhaka was the tipping point for Bangladeshi authorities. 24 people, including two police officers, were killed in the attack, believed to have been carried out by the terror group, the Jamaat-ul-Mujahideen Bangladesh (JMB).

But Indian intelligence officials say it was not until the attack on an Eid congregation in Sholakia Eidgah, in Kishoreganj, Bangladesh, on July 7, that an extensive plan to counter terror activities was devised. A senior BSF official said: "Soon after the attacks in Bangladesh, counter terrorism and transitional crime (CTTC) unit, RAB (Rapid Action Battalion) and the Dhaka metropolitan police started offensive action against terrorists.

The FICN network was clearly affected by the Bangladeshi offensive. On the July 1 attack, one lakh fake currency notes would cost anything between 20,000-25,000 Indian rupees.
On July 27, SWAT, Rapid Action Battalion (Rab), Detective Branch of police (DB) and Dhaka Metropolitan Police (DMP) carried out a joint operation in Kalyanpur termed 'Storm 26'. Nine suspected terrorists were killed, ensuring the FICN rates shifted up to Rs 28,000-30,000. The rates further raised in August and September when Bangladeshi authorities intensified their offensive and any party interested in purchasing would pay 35,000-38,000 rupees for one lakh FICN's.

"The operation in Azimpur, the killing of JMB chief Tamim Chowdhary and the killing of Zahidul Islam served as a crucial blow to the terror group and a marked dip was seen in the FICN business," said a source. Islam was a retired major of Bangladesh Army and was allegedly the military trainer of JMB. While the group's chief Tamim was gunned down on August 27, Islam was killed in the first week of September. Following the two killings, CTTC unit captured three suspected female militants during a raid in Dhaka's Azimpur area.

But while these measures have clearly affected the FICN syndicate officials warn that there is no room for complacency.

"Due to these anti-terrorist operations, smugglers associated with terrorist groups went underground and supply of FICN decreased. As a result rates fluctuated to 35-38,000 per lakh (Indian rupees)," a BSF official said. He added, "Presently smuggling activity has decreased due to the non-availability of money. So while there may be a lull period now, we must be on our guard when the new currency hits the market freely."