Two decades ago, Abdur Rashid joined the Agrani Bank as a clerk and rose to the rank of a junior officer.
Then in 1996, bank authorities found him involved in misappropriating money. He was sacked and jailed for two years.
In jail, Rashid met Nuruzzaman, a high-profile counterfeiter. After serving his sentence, Rashid set up a printing press at Kataban in Dhaka.
Nuruzzaman became a regular customer there, getting forged documents printed.
It was only after 2000 that Rashid got fully involved in the counterfeit money business after he suffered a major financial setback, said Lt Col Tuhin Mohammad Masud, the commander of Rapid Action Battalion (RAB) 1, whose forces caught Rashid on Thursday. In this bust, RAB recovered more than Tk1 crore in counterfeit money.
Rashid was arrested once in the past but simply got out on bail and resumed his operations.
“They have been in this business for a long time,” Lt Col Tuhin said, commenting on the gang they had busted.
Law enforcers say that at least 40 organised counterfeit syndicates are active in circulating fake notes across Bangladesh now, taking advantage of the massive rush of cash exchanges during Eid-ul-Azha season.
'Paper from Pakistan, security thread from India'
Obtaining security materials used in counterfeit money seems very easy. The counterfeit syndicates in Bangladesh are bringing the special paper from Pakistan and the security threads from India, law enforcement sources said.
Once the materials are in hand, they take expert support from several former bank officials and with their expertise, the printing of fake bills becomes very smooth.
The notes are produced using sophisticated machines, making the detection almost impossible for a layperson during the mad rush of Eid.
Law enforcers in recent times have learned about the manufacturing and circulation process by investigating forgery cases where many gang members have described their workings in detail.
Arranged counterfeit bank notes in Dhaka on September 8, 2016
Dhaka Tribune/Mahmud Hossain OpuPolice detectives who have been working on forgery gang activities say they found the involvement of a Pakistani gang behind the recent fake notes. The group is known as “ISI Rupee” and originally it used to forge Indian rupees.
Along with this, involvement of a foreign intelligence agency was also found to be behind the racket.
Police's counterterrorism chief Monirul Islam told the Dhaka Tribune that they were suspecting the involvement of a foreign intelligence agency and were investigating the matter.
Lt Col Tuhin said Abdur Rashid and his gang used to import security thread and paper. He said the forgery gang was highly skilled.
“Their fake notes contain the watermark and the print of Bangabandhu. These could be very difficult to identify,” he said.
According to sources, law enforcers have so far arrested a number of note forgers. But most of them serve only a few months in jail before getting bailed out.
Sheikh Nazmul Alam, deputy commissioner of detective police, told the Dhaka Tribune: “We know a number of arrestees get released after their arrest. However, we are keeping watch on their activities.”
'Tk20 crore target'
In recent times police intelligence has found that besides Pakistanis, some international criminals, especially from Africa, the Philippines and Thailand are also providing technical support to counterfeiters to manufacture fake notes in Bangladesh.
These criminals are working in 40 syndicates, most of them active around Dhaka and the nearby districts. Their target is to spread over Tk20 crore in fake notes during the festival rush, sources said.
Along with Bangladesh police, officials of Indian intelligence are also working to trace these note forgers.
RAB members, along with civilian associates are seen arranging seized counterfeit bank notes
Dhaka Tribune/Mahmud Hossain OpuUsing Bangladesh as transit route, a group from Pakistan had been spreading fake rupees in India for a long time. Due to increased vigilance across the border, the group has now switched to making fake Taka.
Bangladeshi law enforcers have been able to trace six persons in this group. They were identified as Pakistani citizen Mostofa, his wife Salma, Imon, Alauddin, Humayun and his brother Kawsar. Recently, Kawsar was arrested in Narsingdi with fake notes equivalent to Tk21 lakh.
Staying safe from fake notes
An average consumer can easily be tricked by the fake banknotes produced by the gang, RAB 1 second-in-command Maj Safiul Azam Siddique said.
“These are very high quality, almost perfect copies,” he said.
It is nearly impossible to tell the difference just by looking with the naked eye. The forged banknotes contain the watermark and the long thread found in minted notes.
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“Only the colour is not permanent in these bills. If you rub the notes with wet fingers or keep them in your pocket for long, the colour will come off due to sweat,” said Senior Assistant Superintendent of Police Akramul Hasan, who led yesterday's drive.
The officials suggest that everyone should check thoroughly before accepting any Tk500 or Tk1,000 note.
Arranged counterfeit bank notes in Dhaka on September 8, 2016 Dhaka Tribune/Mahmud Hossain OpuPolice detectives who have been working on forgery gang activities say they found the involvement of a Pakistani gang behind the recent fake notes. The group is known as “ISI Rupee” and originally it used to forge Indian rupees.
Along with this, involvement of a foreign intelligence agency was also found to be behind the racket.
Police's counterterrorism chief Monirul Islam told the Dhaka Tribune that they were suspecting the involvement of a foreign intelligence agency and were investigating the matter.
Lt Col Tuhin said Abdur Rashid and his gang used to import security thread and paper. He said the forgery gang was highly skilled.
“Their fake notes contain the watermark and the print of Bangabandhu. These could be very difficult to identify,” he said.
According to sources, law enforcers have so far arrested a number of note forgers. But most of them serve only a few months in jail before getting bailed out.
Sheikh Nazmul Alam, deputy commissioner of detective police, told the Dhaka Tribune: “We know a number of arrestees get released after their arrest. However, we are keeping watch on their activities.”
RAB members, along with civilian associates are seen arranging seized counterfeit bank notes Dhaka Tribune/Mahmud Hossain OpuUsing Bangladesh as transit route, a group from Pakistan had been spreading fake rupees in India for a long time. Due to increased vigilance across the border, the group has now switched to making fake Taka.
Bangladeshi law enforcers have been able to trace six persons in this group. They were identified as Pakistani citizen Mostofa, his wife Salma, Imon, Alauddin, Humayun and his brother Kawsar. Recently, Kawsar was arrested in Narsingdi with fake notes equivalent to Tk21 lakh.