Three Held as Police Crack Fake Currency Network in South Kashmir’s Shopian
Ajaz Dar
Shopian, March 13, KNT: Police in south Kashmir’s Shopian district have busted a fake currency circulation racket and recovered counterfeit notes worth ₹79,000 following a complaint lodged by a local shopkeeper, officials said Thursday.
The action led to the arrest of three persons allegedly involved in circulating fake currency notes in the area, while police have registered a formal case and launched further investigation to trace the origin of the counterfeit money.
The case surfaced after a shopkeeper approached Police Station Shopian, reporting that an individual had used fake currency notes while purchasing goods from his shop earlier this week.
Police officials said the complaint triggered an immediate investigation, with officers launching verification of the suspected transaction and identifying individuals allegedly linked to the circulation of counterfeit currency.
During the course of the probe, police conducted searches and recovered fake currency notes amounting to ₹79,000 from the possession of the accused persons and their associate.
The arrested individuals were identified by police as Mohd Syed Wani, son of Gh Mohiuddin Wani, a resident of Batpora Shopian; Mohd Maqbool Naikoo, son of Habibullah Naikoo, a resident of Bungam Shopian; and Peerzada Altaf, son of Peerzada Ghulam Mohammad, a resident of Tukroo Babnad.
Officials said all three suspects have been formally taken into custody.
“Acting on a complaint received from a shopkeeper regarding the use of fake currency notes, police initiated an investigation and recovered counterfeit currency amounting to ₹79,000 from the accused persons,” a police official said.
Police have registered a case under FIR No. 33/2026 at Police Station Shopian under relevant sections of law, and further investigation is underway.
Investigators are now working to determine the source of the counterfeit currency and whether the accused were part of a larger network involved in the circulation of fake notes in the region.
Officials said police are also examining possible links that could lead to other individuals involved in the supply or distribution chain of counterfeit currency.
Authorities noted that the recovery highlights the continued risk of fake currency being circulated in local markets, where unsuspecting shopkeepers and customers can easily become victims of such illegal activities.
Meanwhile, police urged residents and traders to remain cautious while accepting cash payments and to immediately report any suspicious transactions.
Shopian Police also appealed to the public to stay vigilant and cooperate with law enforcement agencies in identifying and reporting cases involving counterfeit currency.
Local residents said traders in small markets often rely heavily on cash transactions, making them vulnerable to such incidents.
“Shopkeepers should carefully check notes during transactions, especially higher denominations, to avoid losses caused by fake currency,” a local resident said.
Officials said strict action will be taken against individuals found involved in counterfeit currency circulation and related financial crimes.
Further investigation into the case is continuing. [KNT]
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