Maharashtra Cyber Busts Instagram-Based Fake Currency Network, Arrests Two Accused For Promoting And Selling FICN On Social Media

Mumbai: Maharashtra Cyber has busted an Instagram-based fake currency network and arrested two accused for allegedly promoting and selling Fake Indian Currency Notes (FICN) through social media platforms.

Accused Identified

The arrested accused have been identified as Rahul Anil Pawar and Yogita Hitesh Bhosale. Officials said the action was part of Maharashtra Cyber’s ongoing efforts to monitor digital platforms and curb illegal activities.

According to investigators, several Instagram accounts were found posting reels and misleading content to lure individuals into illegal transactions involving counterfeit currency, promising unrealistic financial returns. Authorities noted that FICN is often linked to organized crime, money laundering, terror financing, and other economic offences, posing a serious threat to national security.

National Security Threat

Upon detecting such activities, Maharashtra Cyber identified the accounts and issued notices under Section 79(3)(b) of the Information Technology Act, 2000, directing the removal of objectionable content. Notices were also issued under Section 94 of the Bharatiya Nagarik Suraksha Sanhita (BNSS) seeking details of the account holders.

Based on the findings, a total of four FIRs have been registered against Instagram accounts involved in promoting fake currency. Two FIRs were registered at the Nodal Cyber Police Station under relevant sections of the Bharatiya Nyaya Sanhita (BNS) and the IT Act.

Additionally, based on intelligence inputs shared by Maharashtra Cyber, two more FIRs were registered at local police stations. One case was filed at Jalgaon Jamod Police Station in Buldhana district under Section 66(D) of the IT Act. Another case was registered at Muktainagar Police Station in Jalgaon district under Sections 318(2) and 62 of the BNS along with Section 66(D) of the IT Act.

Police said further efforts are underway to identify and apprehend other accused and beneficiaries linked to the racket. Officials added that monitoring of platforms such as Instagram and Telegram has been intensified to track additional accounts involved in the circulation of fake currency.Maharashtra Cyber reiterated its commitment to protecting citizens from cyber-enabled financial crimes and ensuring the integrity of the digital and financial ecosystem.

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