Karnataka: Tumkur cops launch probe after trio tries to buy phones using fake currency notes
Counterfeit currency scare emerges in Madhugiri as three boys attempt a phone purchase with fake 500-rupee notes. The shop owner alerts the police, leading to a formal complaint. Similar incidents were reported in Ankola, causing distress among small traders. Counterfeiters use colour-printed notes mimicking real currency, with distinguishable signs upon scrutiny.
FollowThree boys had attempted to purchase a mobile phone using counterfeit currency notes at Bayalu Basaveshwar mobile shop on VRST road in Madhugiri town of Tumkur, triggering alarm bells regarding the potential spread of fake currency in the region. The incident occurred on Monday at 6:30 pm when the boys requested to view a low-priced phone but eventually aimed for a higher-priced handset valued at ten and a half thousand rupees. They handed 21 notes of 500 rupees to the shopkeeper.
Suspicions arose when the shop owner, Naveen, sensed the notes' authenticity and questioned the boys. Fearing exposure, the boys swiftly fled the shop, prompting Naveen to alert the Madhugiri police. He handed over the suspected counterfeit notes to the authorities and filed a formal complaint, leading to the registration of a case by the Madhugiri police.
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This incident has shed light on a similar incident of counterfeit currency circulating in various parts of Ankola, causing distress among small traders. The proliferation of 500-rupee fake notes has become a pressing issue, particularly during the town's Saturday festival, where this illegal currency tends to surface. Reports suggest a pattern where selected individuals receive these notes, which are then used to purchase goods in bustling marketplaces.
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The modus operandi of the counterfeiters involves integrating fake notes among genuine currency, often using colour-printed notes that mimic original ones. However, scrutiny reveals telltale signs, including the paper's thinness and rapid fading of colours upon the circulation. The counterfeit notes, despite being printed in colour, crumple easily upon handling. Additionally, some notes sport a drawn RBI line using a marker pen, distinguishing them as fraudulent.
The circulation of counterfeit currency poses a significant threat to local businesses, especially small traders operating along the roadside, who unknowingly fall victim to these fake notes.
