Narinjara news

Counterfeit Banknotes flood Burma  Bangladesh Border

Maungdaw, 5 September 02
:  The activities of the illegal syndicates dealing in counterfeit banknotes and illegal money transfer operations along the Bangladesh  Burma border have increased in recent months, according to sources among the local businessmen.

A number of traders told our correspondent that the smuggling of counterfeit Bangladeshi taka and US dollar has spelt trouble in the border areas.  The network of banknote forgery and illegal circulation extends to the capital Dhaka and beyond, accused a trader from Maungdaw, so that all the financial dealings with the traders from Bangladesh have to be done very carefully. 

According to a daily from Cox’sbazaar, 675 forged Taka of various denominations and two 100-dollar notes were seized by the Bangladesh Police last year.  Forty-five persons were arrested and 32 legal cases have been opened in the law courts in this connection.

In Maungdaw, cheated traders can neither go to the law nor circulate the fake notes that come their way as they face legal action both ways.  Smugglers on both sides of the border have to depend entirely upon the illegal money transfer operators for their payments, according to a smuggler in the area.  #