A police investigation in Lucknow has uncovered the growing reach of a criminal network exploiting citizens through foreign currency scams, luring victims with promises of easy money and quick profits.
A Rising Pattern in Currency Scams
What began as a single complaint from Lucknow’s Tedhi Pulia neighborhood has widened into a troubling picture of organized fraud. Police say the incident — involving the loss of several lakh rupees — may be just one link in a larger chain. The scheme centers on convincing citizens that they can exchange foreign notes for a profit, often with promises of quick financial gains. Authorities now believe a coordinated criminal network is targeting vulnerable people across multiple states.
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How the Fraud Works
The most recent case involves Akhilesh, a resident of Surya Bihar Colony, along with his associates, Dr. Virendra Kumar and Rajendra Kumar. The group entered into a deal with a man named Aekal, who offered to sell them 1,436 foreign notes at 50–60 percent of their value. Together, they handed over nearly three lakh rupees in exchange. But when the package was opened, it contained only counterfeit bills. Police have since registered a case and are searching for Aekal and his associates. Authorities say this is not an isolated incident. Over the past two years, Uttar Pradesh has seen a 35 percent rise in scams linked to foreign currency exchanges. Victims are often middle-class or small traders, tempted by promises of rapid returns and unaware of the dangers of counterfeit notes.
Inside the Network
Experts describe the fraud as operating in three distinct stages. At the first level are individuals who make initial contact with potential victims, displaying large bundles of foreign notes to gain trust. The second stage involves negotiators, who finalize the deal and collect the money. Finally, at the third level, delivery agents disappear with the cash, leaving the victims with worthless bundles. Investigators believe these networks often extend beyond state borders, complicating police efforts.
The Challenges Ahead
Cybercrime specialist and former IPS officer Prof. Triveni Singh said the scheme thrives on psychological manipulation. “People assume that foreign notes will bring them immediate profit. Criminals exploit this greed. Until citizens let go of the mindset of ‘quick and easy money,’ such networks will continue to grow,” he explained.
For the police, the challenge is not only enforcement but also education. Officers acknowledge that awareness campaigns and training ordinary citizens to identify fake currency are just as crucial as criminal investigations. Without such measures, experts warn, the fraud may continue to spread unchecked.