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In India sale of fake note detectors goes up by 50%

INDIA – According to wholesale dealers in India, fake note detectors and note counting machines with inbuilt detectors have been in huge demand in the country for the last two years. This demonstrated that Counterfeit currencies are posing a major challenge, forcing even retailers to buy fake note detectors.

“Earlier, there used to be high demand for currency counting machines. Other than banks and financial establishments, even local traders are going for counting machine with inbuilt fake note detector. We sold around 200 units to local traders in central Kerala in the last six months,” said Jineesh Cherian of Edison Technologies dealing with note counting machines and fake note detectors.

According to Jineesh, the highest number of orders come from wholesale dealers and big retail outlets, besides banks and jewelries. According to police, the highest detention of counterfeit bills is made in petrol bunks where they barely use detectors while receiving money from customers. In shopping malls and jewelries, currencies of high denomination are counted using machines with inbuilt fake note detectors.

“We get at least five fake bills a week. They currency is found to be fake only when they are counted at the end of the day. Scanning every note paid by the customer is not practically viable. Traders usually do not report the detection to police if it is a small amount so as to avoid complications of case registered thereafter,” said a manager of a petrol bunk on condition of anonymity.