Aiming to counter Pakistan’s nefarious designs to destabilise Indian economy, counterfeiting of Indian currency or Fake Indian Currency Notes (FICN) is being brought as a terrorist offence under the Unlawful Activities Prevention Act.
The amendments in the UAP Act, which the ministry of home affairs wants to be tabled in Parliament on Wednesday for passage, will declare counterfeiting a scheduled terrorist offence punishable under the Act. “It is a welcome step as it will be a deterrent to Pakistan’s designs to destablise the Indian economy and fund terrorist activities by way of pushing in loads of FICN through couriers via Nepal, Bangladesh and United Arab Emirates,” former Union home secretary GK Pillai told DNA.
The move may also put pressure on the Financial Action Task Force (FATF), an inter-governmental body to combat money laundering and terrorist financing, to include counterfeiting as a terrorist crime.
After becoming the 34th member of the FATF in 2010, India has strongly recommended declaring counterfeiting as a terrorist crime but could not get it cleared.
But it may become a possibility now after India raised the matter with the US at the Homeland Security dialogue in May 2011.
