Counterfeit money flooding India from Pak

Fri, 04 March 2011

13:39

India always knew this, but it's still an FYI.

An US report says that counterfeit currency is flooding into India from Pakistan and terrorist and criminal networks are using this money to finance their activities in the country.

Warning that burgeoning black money, remittance systems and a porous border were triggering money laundering at an alarming pace, the International Narcotics Control Strategy of the State Department in its 2011 report said the Indian government should facilitate development of alternative money transfer services including mobile banking.

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