NIA says that FICN is pushed into India to fund groups like JMB
Source: The Sangai Express / Courtesy : TNN

Kolkata, October 27 2014: The National Investigating Agency (NIA) is of the opinion that Fake Indian Currency Notes (FICN) continue to be pumped across the border from Bangladesh to fund the activities of outfits like the Jamaat-ul-Mujahideen Bangladesh (JMB) and Indian Mujahideen (IM).

The high quality fakes are printed in Pakistan and routed to India through Bangladesh.

Till a few years ago, it was believed that Pakistan sends in FICN to weaken the Indian economy.

"This theory may not be correct.

We now suspect that sending in FICN is a form of the much talked about 'Money Jihad'.

A clear pattern has emerged regarding the route of the FICN once it reaches Indian soil.

A large part of it is sent to places like Moradabad in Uttar Pradesh that have links to terror outfits.

The remaining has been tracked to southern states, particularly to locations from where terror modules are known to operate.

This is a continuing process.

Despite the developments over the last few weeks that has led to tightening of security, attempts are continuing to push in FICN from across the International Border into Bengal.

Even when IM co-founder Yasin Bhatkal was first arrested, FICN was found in his possession," a source in the NIA said.

Early on Sunday, the Border Security Force seized FICN of face value of nearly Rs 14.90 lakh from near Sasani in Malda.

Troops of the 125Bn BSF seized the FICN that was thrown across the border fence.

The BSF's South Bengal Frontier claims to have seized FICN of face value of nearly Rs 1.07 crore in 2014 alone.

The NIA, which has taken part in several of these raids believes that its merely a tip of the iceberg.

For every load of face value Rs 1 lakh seized, at least Rs 10 lakh manages to reach the hands of the terrorists through the highly-porous border.

"This is a serious threat.

The activities of such outfits can't be contained till the funding can be stopped.

Efforts have been made to cut off other sources but the FICN continues to flow in.

This is such a well-oiled racket that investigators have rarely managed to nab people apart from the couriers who know little.

Among the bordering states, West Bengal is selected as it has a good network of roads and railways that connects places like Kolkata and Malda with other parts of the country," the source added.

What is making it very difficult for authorities is the high-quality of the currency notes being circulated.

According to officials in the Ministry of Home Affairs, Bangladesh has pleaded helplessness and said that the FICN isn't printed there but smuggled in from Pakistan and West Asian countries.

So is Bangladeshi Taka.

A few years ago, fake Bangladeshi Taka ended up in salary packets of Bangladesh Rifles (now Border Guard Bangaldesh) personnel.

According to the NIA, FICN brought into India is distributed through agents in large 'mandis' or wholesale markets where currency remains in circulation for months and even years before being deposited into banks.

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