Fake currency notes are counterfeit currencies circulated in Indian economy. This issue is a serious problem which needs urgent attention among media and public. Our government alarms about the danger spread in Indian economy because of fake money circulation.
This article is written in order to bring awareness among people about fake money circulation and terrible effects spread in economy due to it. As public we should be responsible and conscious to completely eliminate fake money circulation among the society.
As taking a step forward we can see the purpose, danger effects and protective measures for fake money circulation.
Idea behind fake money circulation:
The two major reasons for fake money circulation is,
1.For ones own purpose:
Some skilled criminals get fake notes Printed using high quality printing presses, special inks and exchange those fake notes in market for buying any product. This is equivalent to buying things without money. Some of criminals use this technique for their own purpose and convert Fake notes to genuine notes.
2.To Weaken Economy:
There is several terrorists gang spread fake money into society to weaken the Economy of our country. This also helps them promote & sponsoring their activities in the country.
Reasons to prevent it:
1.The circulation of fake money into economy should be immediately banned and stopped. Since it affects the development of nation.
2.It is absolutely punishable according to law. As counterfeit money flow is against nation, the people involved in this activity can be punished by court.
3.100% illegal activity.
4.Exchange of fake note is crime.
5.It reduces the value of the currency & brings chaos among the public to freely and absolutely accepting currency from others.
6.Common people are affected because 100, 500, 1000 rupee fake notes are in circulation. Even at many times Common man is in trouble by unknowingly accepting or issuing fake note.
7.Fake Notes Tremendously affects Business Houses, Traders, Retailers, Shopkeepers, Corporate, Financial Institutions & Almost every commercial establishment in Nook & Corner of this country. It affects their profitability, brings chaos in their organization and also seriously affects their employees and at times they give up their job also.
Few tips to differentiate genuine note and fake note:
Now days, a common man should also know to differentiate fake money and genuine ones. Have a careful look on money before buying it from other people.
1.The number panel of notes is printed using fluorescent ink and they are of standard size. If the panel size of notes varies, then it is not a genuine note.
2.The water mark in new currency note depicts Mahatma Gandhi, visible from both front and back in transmitted light.
However, the modern Fake Notes are very smart and have almost all the features that an Original Currency possesses. This makes it ideally impossible to differentiate between fakes and genuine notes. Particularly in 500 & 1000 rupees denomination, with similar security features present on the Fake notes, its not possible to differentiate the Fake notes.
Accurate preventive procedures to completely eradicate fake notes:
Only one person cannot completely eradicate this problem. This is social crisis so public and media should help government to eliminate it.
Fake note detectors are ideal solution for identifying fake notes in bank, ATMs, hospitals and in many other places. One of greatest advantage of using fake note detector are people need not check each and every currency notes manually. Also it reduces the effects of human error drastically. Fake note detectors can help reduce the effects of accepting fake notes & thus save you from Potential losses or getting into legal troubles, even if you unknowingly one or more fake notes are deposited in the bank, you can meet legal consequences.
With new & advanced technology, fake notes detection is now possible even in bundled currency. With MX50i – Intelligent note counting machines from Maxsell, one can find presence of fake note in a bundle at the time of counting itself. Its accuracy is very high and assures 100% detection of Fake notes in both old & new versions of currency. It has been tested at RBI, ICICI Bank Currency Chests across the country and all Major Banks in India for its capability to detect any type of Fake note while counting.
Also Truscan from Maxsell can detect fake notes of all types for Users who do not get bundle of currency. For Retail outlets and small business establishments Truscan is very handy & useful. Both products from Maxsell have some special sensors mounted, which Scan, read and Verify each currency in split second and thus help the user to easily, quickly and accurately verify currency.
You can know more about fake note detector and techniques used in it to spot fake notes by visiting www.maxsell.com