THIRUVANANTHAPURAM: The gold from Africa that gets smuggled to Kerala is being purchased using fake currency that is printed on original currency papers at security presses in foreign countries, a report said. It is learnt that the currencies of several foreign countries are being counterfeited for this purpose.

According to sources, foreign security presses that print currency notes of respective countries also witnesses printing of fake currency. It must be noted that fake Indian currency notes that were printed at the security presses in Pakistan were smuggled to India ahead of the demonetisation in 2016. Moreover, the NIA had seized fake currency from nine regions within the country in the past. Some of these currency notes even had the watermarks and symbols that were usually found on the original notes. It was later discovered that the fake currency papers were manufactured from real pulp and the notes were printed using the same technology that was being used to print original notes. With the demonetisation coming into effect, terror funding got transformed into gold biscuits.

The gold from Africa that is purchased using the fake currency is first transported to countries like UAE, Bangladesh, Pakistan, Nepal, Singapore etc before getting smuggled to India. The carriers that smuggle gold are usually offered Rs 2-3 lakhs per transaction. It is learnt that several Keralites are involved in transporting gold from Africa to UAE.