Dhaka: India's National Investigation Agency (NIA) is coordinating with the Bangladeshi officials to dismantle the network run by Pakistan's ISI-backed syndicate and pumping fake currency into India via Bangladesh, local media reported.

India is actively working with Bangladesh to track and curb the Fake Indian Currency Notes (FICN) network in the country.

Recent recoveries of fake notes in Bangladesh have exposed Pakistan's intelligence agency ISI of its involvement in running the network for pumping fake notes inside Indian borders. In addition to the ISI, some transnational criminal gangs are also involved in carrying out the smuggling, reported Bangladesh Live News.

In November 2021, Dhaka Police arrested two Bangladeshi nationals namely, Fatema Akter and Sheikh Md. Abu Talab for smuggling FICN and recovered a consignment worth 7.35 crores. Using its bases in Bangladesh, the network was smuggling fake currencies into India.

Another such incident came to light in February 2022 when Dhaka police seized some gunny bags filled with a large quantity of FICN and arrested some people suspected to have been involved in the racket.

Upon investigation, it was found that the arrested individuals were a part of a transnational FICN syndicate, being guided and handled by Pak ISI and operating in at least seven countries including Bangladesh, India, Nepal, Sri Lanka and UAE, reported Bangladesh Live News.

Investigation in the recent cases confirms the years old mode of operation: FICN is printed in Pakistan and then illicitly imported into India either directly through the border with Nepal and Bangladesh or through other routes linking Dubai, Bangkok, Hong Kong, and Colombo.

ISI-backed FICN network received global attention in 2011. In 2011, the International Narcotics Control Strategy Report of the US State Department confirmed the flow of counterfeit currency produced in Pakistan to India and that terrorist and criminal networks used this money to finance their activities in the country.