Back to Career News

Confiscation of Fake Rupees Notes in Switzerland Drop to Just 3 in a Year

June 20, 2018

Confiscation of Fake Rupees Notes in Switzerland Drop to Just 3 in a Year

Switzerland which is often called a haven for black money hoarders has been confiscating thousands of fake Indian rupee notes over the past many years. However, last year, the tally reduced significantly to only 3 counterfeit notes- one of Rs. 500 denomination, and two of Rs. 100 denomination.

In 2016, Switzerland confiscated 1,437 fake notes of Rs. 1,000 denomination, and 5 fake notes of Rs. 500 denomination. In 2015, it confiscated 336 notes of Rs. 1,000 denomination, and 5 of Rs. 500 denomination. However, no instance of seizing a currency note of Rs. 2,000 denomination has been reported yet.

Photo credit: Dr PS Sahana * Kadamtala Howrah on Visualhunt.com / CC BY

Recommended for you ...

Axis Bank and Mastercard Launch Premium Credit Card for Small Business Owners
Axis Bank and Mastercard Launch Premium Credit Card for Small Business Owners

September 26, 2024

Banks Report Over 15% Growth in New Credit Card Additions: RBI Data
Banks Report Over 15% Growth in New Credit Card Additions: RBI Data

September 26, 2024

National Company Law Tribunal (NCLT) Approves Merger of IDFC and IDFC First Bank
National Company Law Tribunal (NCLT) Approves Merger of IDFC and IDFC First Bank

September 25, 2024

Chat on WhatsApp