Central Kashmir Police Nab Three for Circulating Fake Currency, FICNs Seized
Magam Police Bust Counterfeit Note Circulation, Recovery Worth ₹33,000
SRINAGAR, Sep 27: In a crackdown on counterfeit currency, Magam police have arrested three individuals, including two students, for allegedly circulating fake Indian currency notes (FICNs). The arrests followed credible intelligence about suspicious financial transactions in the area.
The accused have been identified as Bashrat Bashir Rather, 17, from Archander Hama, Budgam; Mohammad Shafie Ganaie, 37, from Mazhama Magam, Budgam; and Abid Manzoor, 17, a higher secondary student from Kawoosa Khalisa. Police recovered fake notes worth ₹27,500 from Bashrat and ₹5,500 from Abid, bringing the total recovery to ₹33,000.
A senior officer confirmed that investigations are ongoing to trace the source of the counterfeit currency and determine if the accused are part of a larger network. “We are probing how the notes reached them and whether more people are involved in the circulation racket,” the officer said.
The arrests, particularly of two students, have raised concerns among locals, who urged authorities to educate youth about the severe consequences of involvement in illegal activities. Police have registered a case at Police Station Magam, and questioning of the accused continues, with strict action promised against anyone involved in spreading counterfeit currency.
