Police bust fake currency circulation racket in Shopian; three accused arrested

Shopian, Mar 13: Acting on a complaint from a local shopkeeper, J&K Police have busted a fake currency circulation racket in Shopian and recovered counterfeit notes worth ₹79,000, leading to the arrest of three accused persons, police officials said on Friday.

According to the officials, the accused have been identified as Mohd Syed Wani S/O Gh. Mohiuddin Wani R/O Batpora Shopian; Mohd Maqbool Naikoo S/O Habibullah Naikoo R/O Bungam Shopian; and Peerzada Altaf S/O Peerzada Gh Mohd R/O Tukroo Babnad (BDO Zainapora).

They said that a case FIR No. 33/2026 under relevant sections of law has been registered at Police Station Shopian and investigation has been taken up.

In a statement, a police spokesperson said that a complainant reported that an individual had used fake currency notes while purchasing goods from his shop. Acting promptly on the complaint, the police initiated an investigation into the matter.

“During the course of investigation, police recovered suspected fake currency notes amounting to ₹79,000 from the possession of the accused persons and their associate, ” he said.

The recovered currency notes are suspected to be counterfeit and will be sent to the Forensic Science Laboratory (FSL) for expert examination to determine their genuineness, the statement said.

The spokesperson further said that all the accused persons have been formally arrested, and further investigation is underway to trace the source of the fake currency and identify other persons involved in the circulation network.

Shopian Police urge the general public to remain vigilant while dealing with currency transactions and report any suspicious activity to the nearest police station.