Sunday 29th November 2020

Kathmandu Witnesses Sharpe ‘Surge’ in Fake Currency Circulation!

In the last two years, police have seized fake currency worth millions in Kathmandu alone.
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Kathmandu Witnesses Sharpe ‘Surge’ in Fake Currency Circulation!

Apart from the unstable political scenario, poverty, corruption and natural disasters, the counterfeit currency menace is affecting the economic stability in Nepal.

In the last two years, the Nepali Government has seized fake currency worth millions in Kathmandu alone.

Last week, the Kathmandu Police arrested Narayan Paudel of Syangja with a fake currency printing device and ten copies of fake 1,000-rupee notes.

“We are investigating into the case to find out how long he has been working on it and what quantity of fake currency has been circulated,” said SSP Gyawali.

This is just the tip of the iceberg.

The Nepal Police have arrested many criminals involved in printing and circulating fake Nepali currency notes.

Latest Fake Nepali Currency Cases in Kathmandu

No. of Culprits Fake Currency Date
One 10 fake notes of NPR 1,000 July 31, 2020
One 19 fake notes of NPR 1,000 July 24, 2020
Four NPR 413,000 Fake currency worth January 9, 2020
Three 34 fake notes of NPR 1,000 and fake currency printer October 21, 2019
One NPR 150,000 worth fake currency January 30, 2019
Five NPR 370,000 worth fake currency October 21, 2018
One NPR 10,000 worth fake currency October 12, 2018
One NPR 5,000 worth fake currency October 9, 2018
Six NPR 26.06 million worth fake currency May 16, 2018

According to the police records, the fake currency in Nepal is circulated in the busy markets, mostly during festivals.

“Restaurants, shops and places with more transaction ratios are regarded as a safe haven for the criminals,” claims the authorities.

Citing the rise in fake currency circulation, the Nepal Police are taking severe actions against the criminals and trying to bring awareness among the public.

Under the National Criminal Code Act 2017, a person involved in counterfeiting money can be fined from NPR 50 thousand to NPR 100 thousand and 5-10 years of imprisonment.

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