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New Delhi: A few days after news came in of the arrest of Iqbal Mirchi, Dawood Ibrahim's right-hand man in London, a CNN-IBN's exclusive report has exposed the latest modus operandi and routes to push fake currency to India.

A detailed intelligence report shows how Hyderabad is emerging as the latest transit hub for fake currency. Dawood's key men - Aftab Bhakti and Babu Gaithan- are believed to be running the latest fake currency operation.

According to the report, Dawood's men use poor labourers from Andhra to smuggle in fake currencies which are printed in government like mints in Pakistan.

Intelligence sources said that high quality of 'Made in Pakistan' fake currency is not possible without state support.

It's very difficult to spot the difference between the two currencies because sophisticated fake Indian currency has been pumped into the market which is almost impossible to detect.

And it's India's most wanted, Dawood Ibrahim, who is behind the operation to flood the country with fake currency in collusion with Pakistan's ISI, since the late 1990s.

Initially the fake notes were smuggled through Nepal and the man responsible was Salim Miya Ansari, a former cabinet minister from King Gyanendra's regime.

But now, 2 of Dawood's key men have taken over - Aftab Bhatki, former resident of Mumbai and Babu Gaithan, originally from Hyderabad. Both are now based in Dubai.

And Hyderabad has emerged as the new transit point for consignments of counterfeit currency coming in from Dubai to be distributed across India.

According to Home Ministry sources, the most preferred route is by air because without specific intelligence, it's impossible to detect fake currency.

Investigations by the Directorate of Revenue Intelligence show that from Dubai, Sharjah and Abu Dhabi, fake currency is mainly sent to Hyderabad.

The new modus operandi is to select Indian labourers in Dubai, buy them a return ticket to India, give them a suitcase containing perfume and clothes with hidden compartments containing fake currency wrapped in carbon paper.

Another new route is sending fake currency from Dubai to Colombo, the investigations have revealed. An agent then goes from Calicut or Chennai to Colombo, collects the consignment and returns to India.

From 2008-2009 when 2.5 crores of fake currency were seized by the DRI, in 2010 the seizures rose sharply to 27 crores. Yet, the Home Ministry sources believe that at least 25 times more or about 650 crores of fake money may have come into the country undetected.

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