Counterfeit Money
The term “counterfeit” is used for, “one thing resemblance to something else”
or “to imitate or portray”. Counterfeit currency is produced without the legal
sanction of the State or government, usually in a deliberate attempt to imitate
that currency usually with the intent to defraud or forge”. Counterfeiting is a
crime. Counterfeiting of Currency notes or money is a serious criminal offence.
counterfeit or faked note, when remain undetected then it becomes a part of the
monetary system and posing great threat to our economy.
Ill-effects of counterfeit money has on society include -
Value of real money reduced.
When more money getting circulated in the economy it leads to increase in prices (inflation)
It leads to unauthorized artificial increase in the money supply
Acceptability of paper money decreases.
It resulted in losses, when traders are not reimbursed for counterfeit money detected by the banks, even
if it is confiscated.
Advances in technology of computers and photocopy made it possible for people that without
sophisticated training they can copy and counterfeit currency easily.
Penalties by country for creating counterfeit money
Countries and areas Maximum imprisonment
Canada 14 years
France 30 years
Germany 15
years
Hong Kong 14 years
Italy 12 years
The Netherlands 09 years
Philippines 12 years
Poland 25 years
Portugal 12 years
Singapore 07 years
japan Lifetime
Korea, South Lifetime
Macau 12 years
Zambia Lifetime
United Kingdom 10 years
United States 20 years
However governments include new sophisticated anti-counterfeiting systems such as holograms, embedded devices such as strips, raised printing, watermarks, and color-shifting inks whose colors changed depending on the angle of the light and other designs.
Money art -
Money art is a term related to counterfeiting that incorporates the currency designs and its themes. Counterfeit currency is made with deceptive intent but money art is not. The idea behind the art money is, that artists produce a hand-made currency at a fixed value that can be spend at regular shops.
Fake currency printed by local racketeers are detected easily as they are using the photographic method, hand engraved blocks, lithographic process and computer color scanning. By using opaque ink watermark is made, painting with white solution, stamping with a dye engraved with the picture. To give the picture a translucent feel, oil, grease or wax is used.
At the time of manufacture the security thread is incorporated into the paper of genuine notes and in fake notes, the security thread is imitated by drawing a line with a pencil,by using aluminium thread while pasting two thin sheets of paper, by printing a line with grey ink. It is difficult for forgers to reproduce the same shape of individual numbers again and again with high accuracy. It is difficult to maintain the alignment of figures. Smaller or bigger number, spreading of ink, different alignments in numbers and inadequate gaps should be regarded with suspicion. The printed lines will be broken in counterfeit notes and there may also be ink smudges.
Legal aspect of counterfeit money -
Possessing fake notes is a punishable offence in India but only if the person in question is aware that the notes he posses are fake. Sections 489A, 489B, 489C and 489D were introduced in the Indian Penal Code to provide adequate protection of currency notes and bank notes from forgery. Printing and or circulation of forged Indian Currency Notes is an offence under sec 498A to 489E of the Indian Penal Code.
Clue found at crime scene -
MR. DEEPAK PAWAR has been working as Finger Print Expert / Police Officer in Finger Print Bureau , Delhi Police at New Delhi since 2001 . He is the senior most Finger Print Expert , attending / visited several scene of crime and solved many crime cases .He has passed M.Sc (Chemistry) and he is the Member of International Association of Identification . He is the Member of Delhi Police welfare association . He is supervising the Forensic , New Delhi District , Mobile Crime Team . He is one of the Expert in the Special Investigation Team held for investigation of important cases . He has been giving fingerprint proficient training to Delhi Police personnel's . He has been Presented / giving lectures on topics related to forensic science . He is also making examination paper of Finger Print proficient course . He is awarded with Police Medal by MHA and Delhi Police.