Cases on fake currency notes reported from banks

KOCHI: A recent data from the State Crime Records Bureau reveals that a majority of counterfeit cases were reported from banks. Of the 44 counterfeit currency note cases registered, 40 were detected from banks.There were 14 cases of counterfeit currency notes registered in 2011. Transactions worth around Rs 1.8 lakh were attempted through banks in the same year.  Three counterfeit currency notes cases were reported from State Bank of India branches, three from SBT and two from RBI. Four co-operative banks in the state also detected counterfeit currency notes. Police officials say it is very difficult to trace the culprit if fake currency is detected from banks. In 14 cases registered, the culprits could be traced only in four. “The mafias target the banks where a large number of customers visit every day. During rush hours the cashier might not examine the notes properly. This is one of the safest ways to clear fake currency notes,” a police official said.According to RBI guidelines, all bank branches and treasuries should be equipped with verification, processing and sorting machines to effectively segregate good and bad currency notes. Co-operative banks often lack these facilities and hence counterfeit currency notes could be easily deposited through them. “Some of the co-operative banks and small private banks do not have the facilities to detect fake currency notes. We are planning to make it compulsory at all the banks so that counterfeit currency notes cases can be detected easily,” said RBI officials.