Counterfeit Rs. 5,000 currency notes are reportedly circulating in Karachi markets, prompting traders and business associations to urge the public to remain vigilant while accepting cash payments.
According to reports, fraudsters are using fake Rs. 5,000 notes to deceive shopkeepers and customers during routine transactions, raising concerns across the city’s commercial hubs.
The issue has been highlighted by the Karachi Electronics Dealers Association (KEDA), whose President, Rizwan Irfan, said multiple incidents involving counterfeit Rs. 5,000 notes have recently been reported in Karachi’s electronics market.
He warned that several businessmen had unknowingly accepted fake currency, resulting in financial losses and increasing anxiety among traders.
Rizwan Irfan advised shopkeepers, businesses, and consumers to carefully examine every Rs. 5,000 note before completing cash transactions. He stressed that greater vigilance is essential to prevent fraud and avoid unnecessary financial damage.
Financial experts also recommend checking the security features of high-denomination currency notes, including the watermark, security thread, color-shifting ink, raised printing, and paper quality. If a note appears suspicious, it should not be recirculated and should instead be reported to the relevant authorities or the nearest bank.
The emergence of counterfeit currency poses a risk to businesses that rely heavily on cash transactions, particularly wholesalers and retailers handling large amounts of cash daily.
Authorities have urged the public to remain alert and report any suspected fake currency to law enforcement agencies to help curb the circulation of counterfeit notes.