Fake notes galore on Eid eve 

At a time when the global crisis in fuel prices is pushing people toward severe hardship, in a third-world country like Bangladesh another threat has emerged against students, youth, and the general public-the counterfeit currency syndicate. Moreover, the holy festival of Eid-ul-Fitr is approaching. Markets have become crowded with shoppers, and taking advantage of this situation, counterfeit currency operations are expanding rapidly.

It is learned, more than fifty counterfeit money syndicates are currently active in Dhaka and its surrounding areas. Their target this time is to circulate counterfeit notes worth hundreds of crores of taka. From elite shopping malls in the capital to rural marketplaces, the influence of these counterfeit networks is increasing, according to relevant sources.

Based on such information, law-enforcement agencies have intensified their operations. In several recent raids, counterfeit note producers and traders have already been arrested. Investigations reveal that the counterfeit currency trade is no longer limited to dark alleys. Instead, it is flourishing on digital platforms. Hundreds of groups and channels have been opened on Facebook and YouTube, where "special offers" are advertised. Flashy promotions are used to attract buyers, and to gain trust, videos showing the production of counterfeit notes are displayed. These fake notes are delivered to buyers through courier services, often hidden inside packages labeled as household goods.

To avoid detection by law-enforcement agencies, counterfeit notes are often mixed with real notes in bundles, usually comprising 5-10 percent fake currency. One hundred thousand taka worth of counterfeit notes can be purchased for only 15,000 taka, while "A-grade" counterfeit notes sell for around 20,000 taka. Notes ranging from 50 taka to 1,000 taka are being forged. According to the traders themselves, "A-grade" notes can be used almost everywhere except banks. These notes are so precise that distinguishing between real and fake becomes extremely difficult.

Counterfeit currency activities in Bangladesh began mainly in the early 1990s. As far as I recall, the supply of fake notes started appearing in markets around 1990. However, the counterfeit notes recovered today are far more sophisticated than those of the past, making it extremely difficult for ordinary people to detect them.

In Bangladesh, counterfeit money spreads widely during festive seasons-especially around the two Eid festivals. During busy shopping periods, counterfeit notes are often passed to sellers who are too rushed to check them carefully. Competition among counterfeit groups intensifies before festivals, as each syndicate tries to produce the most convincing fake notes to increase their market demand.

Reports suggest that producing 100 pieces of 1,000-taka notes-equivalent to one lakh taka-costs counterfeiters only about 6,000 to 7,000 taka. These notes are sold wholesale for 15,000 to 20,000 taka. Wholesalers then sell them to first-level retailers for around 20,000 to 25,000 taka, who in turn sell them to second-level retailers for 40,000 to 50,000 taka. Finally, the counterfeit notes are circulated in the market as if they were genuine 100,000 taka.

This distribution chain spreads counterfeit currency throughout the country through multiple layers of syndicates. The process generally involves three stages: producing the counterfeit notes according to orders, delivering them to the buyers who placed those orders, and finally distributing them across the market. In some cases, counterfeit notes are even mixed with real currency in ATM transactions.

According to available data, counterfeit currency-related cases in Bangladesh were recorded as follows: 88 cases in 2025, 41 in 2024, 111 in 2023, 155 in 2022, 116 in 2021, 120 in 2020, 115 in 2019, 133 in 2018, 287 in 2017, 344 in 2016, 410 in 2015, and 368 in 2014.

However, due to legal weaknesses, counterfeit currency continues to spread. In the past three years alone, nearly three crore taka worth of counterfeit notes have been identified. Many witnesses in such cases fail to appear in court regularly, causing delays in trials. Even when cases are resolved, punishments are rarely imposed.

Often, those arrested are only minor workers involved in producing counterfeit notes, while the masterminds remain beyond the reach of law enforcement. As a result, even when a major suspect is arrested, they often secure bail and return to their criminal activities.

There are also allegations that international networks are involved in these operations, and extremist groups may also have connections with counterfeit currency activities. Intelligence agencies estimate that around 250 crore taka worth of counterfeit currency enters the country every year, posing a serious threat to the national economy.

Bangladesh's economy is gradually being poisoned by counterfeit currency. Money is not merely a medium of exchange-it represents human labor, state trust, and market stability. When counterfeit notes undermine this trust, the damage extends beyond financial loss to social confidence and national security.

Counterfeit currency acts like an economic toxin, slowly eroding the real value of money. When fake notes circulate widely, purchasing power declines and inflationary pressure increases. As a result, commodity prices rise and low-income people fall into deeper poverty. This disrupts economic stability, creates liquidity crises in the banking sector, and complicates government financial policies.

Therefore, counterfeit currency is not only an economic problem but also a national security threat. The spread of fake notes may even be used deliberately to weaken the economy and create confusion among the public-particularly at a time when national elections are approaching.

Not only local networks but also international groups may be involved. Recently, several major syndicates have been captured by RAB, police, and the Detective Branch.  Incidents in Chattogram, Dhaka, and Rangpur clearly demonstrate how organized and technologically advanced this crime has become.

Even online platforms now host advertisements for counterfeit notes. On Facebook and TikTok, promotions such as "A-grade print" or "exactly like the original" are circulating openly. This reflects a deeply concerning social reality.

In essence, counterfeit currency harms people by turning their hard-earned money into worthless paper. It is against religion, society, education, civilization, and humanity. Therefore, the effective enforcement of the Counterfeit Currency Prevention Act 2021 is urgently needed.

Law-enforcement agencies must receive improved training and equipment to detect advanced counterfeit notes. The government should implement legal reforms and ensure strict enforcement. Strong penalties for digital-platform fraud must also be established.

Encouraging digital transactions through QR codes, mobile finance, and online banking will also reduce the risks associated with cash and counterfeit currency.

International cooperation is equally important. Intelligence sharing with neighboring countries can help prevent cross-border smuggling of counterfeit currency.

Public awareness remains the most powerful weapon. Counterfeit currency survives only when people fail to recognize it. Citizens must learn how to verify banknotes, immediately report suspicious currency, and avoid becoming victims of fraud.

Counterfeit money works silently like poison within the economy. It destroys not only financial stability but also social trust. Combating this invisible threat requires not only law-enforcement action but also strong national commitment, strict monitoring by the central bank, and awareness among every citizen.

With the formation of a new government, counterfeit currency syndicates may become even more active. The government must take strict action against all offenders without favoritism. Only then can this dangerous counterfeit currency empire be dismantled and the suffering of ordinary people come to an end.