(a) the number of cases and the quantum of smuggling and counterfeit/ fake currency seized by the Indian Customs in the year 2007-08, 2008-09, 2009-10, location-wise alongwith details of the nationalities of the people involved in such activity;
(b) whether bank officers are also involved in such smuggling;
(c) if so, the details thereof and action taken against them; and
(d) the measures taken or proposed to be taken to combat the menace of fake currency?
MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI S.S.PALANIMANICKAM)
(a) & (b) The details of cases and the quantum of smuggling of counterfeit/fake
currency for the years 2007-2008, 2008-2009 and 2009-2010 (upto July 2010) are enclosed
as `Annexure`.
(c) & (d) The enforcement agencies have been active in collecting and developing
intelligence on smuggling of fake Indian currency notes (FICN) to India from across the
border. The Central Government has prohibited absolutely the import of counterfeit currency
notes or fake currency notes into India. Maximum imprisonment prescribed under the Customs
Act, 1962 has been increased to seven years from three years in respect of offences relating
to fake currency. The persons found involved in smuggling of Counterfeit/Fake Currency are
arrested and prosecuted under Customs Act, 1962.In appropriate cases, action under COFEPOSA
is taken against offenders. All such cases are also referred to CBI/Police for action under
IPC and other applicable laws. The Customs field formations and DRI officers are on alert to
check the menace of Counterfeit/Fake Currency. Close coordination is also maintained with other
intelligence/ enforcement agencies.