Mumbai, April 7 : In a major crackdown, Maharashtra Cyber has uncovered a network allegedly using Instagram to promote and sell Fake Indian Currency Notes (FICN), officials said on Tuesday.

They further mentioned that several accounts were circulating misleading reels and content to lure users into illegal transactions by promising quick and unrealistic financial gains.

Authorities have registered multiple FIRs against Instagram accounts involved in promoting counterfeit currency, while two accused -- Rahul Anil Pawar and Yogita Hitesh Bhosale -- have been arrested in connection with the case.

Maharashtra Cyber said that it has been proactively monitoring various social media platforms to detect and curb unlawful digital activities. As part of these ongoing efforts, the agency recently took cognisance of certain Instagram accounts that were found to be promoting Fake Indian Currency Notes through deceptive and fraudulent content.

Preliminary analysis revealed that these accounts were posting reels and other objectionable material aimed at attracting individuals into illegal dealings involving counterfeit currency, often by offering fraudulent and unrealistic monetary returns.

Officials highlighted that Fake Indian Currency Notes are frequently linked to organised crime syndicates and a range of unlawful activities, including money laundering, terror financing, and other economic offences.

The agency noted that the circulation and use of counterfeit currency can directly or indirectly support anti-national elements and illicit operations, making the issue not just a financial crime but also one with implications for internal and national security.

Following the detection of such content, Maharashtra Cyber identified the accounts in question and issued notices under Section 79(3)(b) of the Information Technology Act, 2000, directing the removal of objectionable material.

Additionally, notices were served under Section 94 of the Bharatiya Nagarik Suraksha Sanhita (BNSS) to seek details related to the account holders involved in these activities.

Based on the information gathered and Intelligence developed during the investigation, a total of four FIRs have been registered against Instagram accounts allegedly engaged in selling and promoting Fake Indian Currency Notes.

Out of these, two FIRs have been registered at the Nodal Cyber Police Station, Maharashtra Cyber.

Further, acting on actionable Intelligence, including names, addresses, and mobile numbers of suspects, Maharashtra Cyber facilitated the registration of two additional FIRs at local police stations across the state.

Officials said efforts are ongoing to identify and apprehend other accused individuals and beneficiaries linked to the network.

Maharashtra Cyber also stated that it continues to actively monitor platforms such as Instagram and Telegram to detect additional accounts involved in the promotion, circulation, or facilitation of Fake Indian Currency Notes and to initiate timely legal action against those found engaged in such activities.

"Maharashtra Cyber reiterates its commitment to safeguarding the digital ecosystem, protecting citizens from cyber-enabled financial crimes, and upholding the integrity of lawful financial and digital systems," the agency added.

/IANS