India has decided to put together a ‘financial terror dossier’, which is expected to be handed over to Pakistan as evidence of its attempts to destabilise the Indian economy.
India, for the first time, has decided to put together a ‘financial terror dossier’, which is expected to be handed over to Pakistan as evidence of its attempts to destabilise the Indian economy.
More importantly, the dossier will help India secure critical international support in pressurising Pakistan to clamp down on counterfeit currency exports to India.
The exercise is expected to commence on Monday when top intelligence officials will put their heads together in a meeting to be headed by the national security council secretariat (NSCS), which is under the supervision of the national security advisor.
The meeting will be attended by top officials from the Research and Analysis Wing, ministry of external affairs, National Investigation Agency, directorate of revenue intelligence, Central Bureau of Investigation and the Intelligence Bureau’s multi-agency centre.
After 26/11, India has aggressively built its case against Pakistan internationally, which has yielded significant returns. The government now wants to build a similar case against Pakistan’s counterfeit Indian currency industry, which has lately acquired startling accuracy in copying the security features of Indian banknotes.
“There is enough evidence with us of Pakistan’s incriminating role in printing fake Indian currency notes (FICN) and pumping it into India,” a senior intelligence official told DNA.
Intelligence agencies are believed to be in possession of indisputable evidence about the existence of FICN-printing units in Karachi, Lahore, Quetta and Peshawar. Several disclosures to this effect have been made by arrested Pakistani militants and others.
Many FICN printing operations are reportedly being carried out at Pakistan’s legitimate currency presses.
There are also reports that Pakistan has been importing currency paper and ink in massive quantities from European countries, including the UK, Sweden and Switzerland for diversion into FICN.
Currency experts who have examined recently smuggled FICN were stumped by the degree of genuineness of the notes, which could not be detected by the naked eye as fake and required microscopic scrutiny.
The security features on the notes are believed to have been copied with over 95% accuracy, including the new features incorporated by the Reserve Bank of India in 2004-05. In the backdrop of a currency template theft — which is being investigated by the CBI — a fresh assessment says that the number of fake notes may shoot up this year.
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