Beware of the Fake Currency Scam in Pune – Your Guide to Spotting Fraud

By Prashant for PuneriPages.in

PUNE: When I first heard about the fake currency scam busted in Hinjawadi, it struck a chord. Not just because of the crime, but because of how easily this could’ve been someone I know. Or even me.

We all dream of quick success, fast money, the shortcut that changes everything overnight. And that’s exactly what scammers prey on.

Recently, Hinjawadi Police uncovered a fake currency racket where conmen promised to “double your money.” Sounds shady, right? But in moments of desperation or greed, logic often takes a backseat. That’s why I’m not just sharing the news here — I’m breaking it down, step-by-step, so none of us fall for it.

The Anatomy of the Scam

Here’s how it worked:

1. The Bait: Scammers would approach individuals and promise to double their money instantly.
2. The Hook: They’d showcase bundles of fake notes, mixed with some real ones, to gain trust.
3. The Switch: Once victims handed over real cash, they’d be distracted with a story or demo and given fake bundles in return.

Police acted on a tip-off and arrested the accused. Seized were stacks of counterfeit currency and materials used to create them. But the real win here? Stopping more people from being fooled.

What the Police Say

Speaking to us, a senior Hinjawadi officer said: “We urge citizens to be cautious. If someone claims they can double your money in minutes, report it. No legitimate scheme works like that.”

And he’s right. If it sounds too good to be true, it probably is.

Why Do People Fall For This?

I wanted to understand the psychology. I reached out to a Pune-based financial advisor who shared this:

“Even educated people fall prey to these scams because the pitch feels personal. Scammers use urgency, fake authority, and even emotions like ‘help me just once, brother’ to lower your guard.”

So it’s not always about being gullible. It’s about being human.

Your 10-Second Fake Note Detection Guide (Based on RBI Guidelines)

Here’s what I personally do whenever I get a high-value note:

1. Watermark Test: Hold the note against light. You should see Mahatma Gandhi’s image and the denomination.
2. Security Thread: There’s a thread running vertically that changes colour.
3. See-Through Register: When held against light, the printed half-circle of the denomination should align.
4. Raised Printing: Rub your fingers on the text. You should feel the ink.

Want to be sure? Compare a doubtful note side-by-side with a known real one.

Five Red Flags of Any ‘Get Rich Quick’ Scam

1. Guaranteed Results: Anything that promises sure-shot doubling is a trap.
2. No Written Details: No contracts? Run.
3. Cash-Only Transactions: They want no paper trail.
4. Urgency & Pressure: “Offer valid for today only” is a psychological trick.
5. Secrecy: If they say “don’t tell anyone,” that’s a huge red flag.

Final Thoughts

I didn’t write this just as a journalist. I wrote it as a Punekar who’s seen too many people lose money, trust, and dignity to these scams.

Let this article not just be a warning. Let it be a guide, a shield, something you share with your parents, uncles, colleagues — anyone who could be the next target.

And hey, if someone promises you fast money, tell them PuneriPages.in already made you smarter.

Stay alert. Stay safe.

— Prashant Founder, PuneriPages.in

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Prashant

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