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of the Covid-19 pandemic, there was significant reduction in the number of seizures of FICN. In 2020-21, Customs booked 4 cases resulting in seizures of FICN with a face value of Rs. 6.40 Lakh. Most of the seizures comprised Rs. 2000 denomination, with Rs. 500 denomination making up a smaller portion of the fake currency seized.
There has been a gradual improvement in the quality of
the FICN being seized. State- sponsored networks involved in trafficking of FICN have been attempting to make a come-back, but have still not reached the same scale and quality. Analysis of movement of FICN in the broader South-East Asian region indicates the use of neighbouring countries like Bangladesh, Myanmar and Thailand as staging points, to push FICN into India.
CHAPTER 3: ROLE OF CUSTOMS IN NATIONAL SECURITY 39
Figure 2: Graph Showing Seizure of FICN (by Face Value) from FY 2015-16 to FY 2020-21