Maharashtra Cyber Cracks Down on Fake Currency Network Promoted via Instagram Reels
'Dhurandhar' Songs, Cheap Notes, Home Delivery: How Fake Currency Was Sold Via Instagram Reels
News 18
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Maharashtra Cyber has arrested two individuals linked to a network selling Fake Indian Currency Notes (FICN) through Instagram reels. The trend, which has emerged primarily in Maharashtra's Dhule, Jalgaon, and Buldhana districts, promotes counterfeit currency with promises of quick financial gains, raising concerns over national security and organized crime.
- 01Maharashtra Cyber arrested two individuals for promoting Fake Indian Currency Notes (FICN) on Instagram.
- 02The counterfeit currency trend is primarily active in Dhule, Jalgaon, and Buldhana districts of Maharashtra.
- 03Authorities have registered four FIRs against accounts involved in selling FICN.
- 04The crackdown follows a similar operation in Ahmedabad, where counterfeit Rs 500 notes worth over ₹2.38 crore were seized.
- 05Political figures have raised concerns about the implications of such scams on national security.
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In a significant operation, Maharashtra Cyber has uncovered a network allegedly using Instagram reels to sell Fake Indian Currency Notes (FICN). The arrested suspects, Rahul Anil Pawar and Yogita Hitesh Bhosale, were promoting counterfeit currency through misleading content, often directing users to WhatsApp for doorstep delivery. This trend has gained momentum in Maharashtra, particularly in Dhule, Jalgaon, and Buldhana districts, with reels showcasing fake notes at discounted rates. Authorities have registered four FIRs against these accounts, emphasizing the connection between FICN and organized crime, including money laundering and terror financing. The operation aligns with a recent bust in Ahmedabad, where authorities seized counterfeit Rs 500 notes worth over ₹2.38 crore from a self-styled godman and his associates. The crackdown highlights the ongoing risk posed by counterfeit currency operations, which have drawn political scrutiny regarding their implications for national security and the effectiveness of past demonetization efforts.
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The proliferation of counterfeit currency can undermine the local economy, affecting businesses and consumers. Individuals engaging in these transactions risk legal consequences and financial loss.
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