On Thursday, the police detained a group of individuals who had been printing phony UAE, Pakistani, and American currency.
The accused allegedly printed the US dollar, the UAE dirham, and the Pakistani rupee, according to Superintendent of Police (SP) Sadar Ali Mardan. Ahmed Waqas, Ameer Khan, and Ibne Ameen have all been named as suspects in this case.
According to SP Mardan, the network also has operations in Dubai, although some of its members also work in Peshawar, Lahore, and Multan. He continued by saying that an organization that distributes counterfeit money has also been active in Karachi for a while. According to the police, a significant amount of counterfeit US dollars and other money were found on the accused. They also stated that the group was smearing the name of Pakistan.
Another fake money incident took place in June 2020. The contentious Mehran Paper Mill, located in Kotri (Sindh), 154 km from Karachi and sanctioned by the US for its affiliation with the infamous D-Company, resumed operations. The Mehran Paper Mill, run by Anees Ibrahim, the top lieutenant of D-Company and the brother of Dawood Ibrahim, the most wanted man in India on run, was suspected of conspiring with Pakistan Security Printing Corporation (PSPC) to print Fake Indian Currency Notes (FICN) in order to undermine the Indian economy.
The Mehran Paper Mill had reportedly been shut down following penalties imposed by the US Foreign Narcotics Kingpin Designation Act in 2015, however, IANS had learned that the mill had discreetly reopened. The National Investigation Agency (NIA) learned more about D-Company’s phony money operations in Pakistan after apprehending Abdul Salam, a significant Dawood aide, in 2016. In the charge sheet it filed to the court, the NIA noted that Dawood’s syndicate actively participated in the printing of the phony money in Pakistan.
In November 2018, a three-person gang was detained by the Peshawar police for making phony Pakistani currency notes. The police reportedly conducted a warehouse search around Ring Road and confiscated Rs. 60 million in counterfeit money. A counterfeit money printing equipment was also recovered during the operation at the facility, SSP Operations Javed Iqbal said to reporters during a news conference. Three suspects were also detained. The three suspects intended to print an extra Rs90 million in the fake money denominations of Rs5, 000, Rs1, 000, and Rs500, according to the police official.
The life sentence is the harshest punishment for printing counterfeit money, according to Pakistan Penal Code (PPC) 489A-D. The PPC lists offenses for creating, using, and having tools to create counterfeit money. Corruption on both a micro- and macro-scale will continue to erode our moral standing.
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