NIA Cracks Down on International Fake Currency Syndicate
The National Investigation Agency (NIA) has filed a charge sheet against four individuals accused of operating a fake currency syndicate linked to Pakistan and Nepal. The case involves smuggling counterfeit Indian notes to destabilize the economy, with the fake money procured via cryptocurrency payments.
- Country:
- India
The National Investigation Agency (NIA) has intensified its efforts against fake currency circulation, filing a charge sheet against four individuals in the 2024 Champaran case. The accused, tied to networks in Pakistan and Nepal, have been flagged under the Unlawful Activities (Prevention) Act.
The investigation revealed organized smuggling operations involving high-quality counterfeit notes into India from Nepal, aimed at undermining the country's economy. Cryptocurrency payments were used to procure the fake currency from Pakistan-based sources via Nepali intermediaries.
Among the arrested, Saddam played a key role in the smuggling, with Waris and Hushain as accomplices, while Sarfaraz provided financial resources and logistics. The NIA continues to pursue leads to dismantle the syndicate entirely.
(With inputs from agencies.)
- READ MORE ON:
- NIA
- Fake Currency
- Champaran
- India
- Bihar
- Syndicate
- Pakistan
- Nepal
- Cryptocurrency
- Investigation
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