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    Tuesday, 28 November 2017

    Counter-Feiting Coin and Govt. Stamp and it's Punishment

    1. Introduction
    Counterfeiting is as old as money itself and is considered the world's second oldest profession. History reveals that counterfeiting has been used as a means of warfare. Through this means of warfare, enemy's economy was over flown with fake bank notes so as to devalue of enemy's money. Both in the United States and England, counterfeiting was once punishable by death.

    2. Definition of Counterfeiting Coin
    When a person causes a genuine coin to appear like a different coin and intends to practice deception or knows it to be likely that deception will thereby be practiced, he commits counterfeiting coin.

    3. Explanation of Counterfeiting Coin
    In Pakistan Penal Code, various offences have been described regarding counterfeiting coin. Followings are some of these offences.
    (i) Making or selling instrument for counterfeiting coin
    (ii) Possession of instrument or material for purpose of using the same for counterfeiting coin
    (iii) Delivery of con, which has been possessed with knowledge that it is counterfeit

    (i) Making or selling instrument for counterfeiting coin
    Under Pakistan Penal Code, making or selling of instrument, which is used for counterfeiting of coin, is punishable.

    (ii) Possession of instrument or material for purpose of using the same for counterfeiting coin
    According to Pakistan Penal Code, possession of instrument for purpose of using the same for counterfeiting of coin is an offence.

    (iii) Delivery of con, which has been possessed with knowledge that it is counterfeit
    Under Pakistan Penal Code, delivery of that coin, which has been possessed with knowledge that it is counterfeit, is a crime.

    (4) Punishment for Counterfeiting Coin
    Punishment for counterfeiting coin is imprisonment, which can extend to seven years, and fine.

    5. Definition of Counterfeiting Govt. Stamp
    When a person counterfeits or knowingly performs any part of process of counterfeiting any stamp, which is issued by Government for purpose of revenue, and such person causes a genuine stamp of one denomination to appear like a genuine stamp of a different denomination, he commits counterfeiting Government stamp.

    6. Explanation of Counterfeiting Govt. Stamp
    In Pakistan Penal Code, various offences have been described regarding counterfeiting government stamp. Following are some of these offence.
    (i) Having or selling instrument for counterfeiting Government stamp
    (ii) Making or selling instrument for counterfeiting Government Stamp
    (iii) Sale of counterfeit Government Stamp

    (i) Having or selling instrument for counterfeiting Government stamp
    To have possession of instrument or material, which is used for counterfeiting Government stamp, is a crime according to Pakistan Penal Code.

    (ii) Making or selling instrument for counterfeiting Government Stamp
    Under Pakistan Penal Code, making or selling of instrument, which is used for counterfeiting Government stamp, is an offence.

    (iii) Sale of counterfeit Government Stamp
    According to Pakistan Penal Code, selling of counterfeit Government stamp is punishable.

    7. Punishment for Counterfeiting Govt. Stamp
    Punishment for counterfeiting Government stamp is imprisonment for life or imprisonment, which can extend to ten years, and fine.

    Conclusion

    To conclude, it can be stated that there are several ill-effects of counterfeiting. Some of them are corruption, inflation and decrease in real value of money. Such ill-effects can damage very roots of economy, industry and social order of state. 
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    Item Reviewed: Counter-Feiting Coin and Govt. Stamp and it's Punishment Rating: 5 Reviewed By: Usman Ali
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