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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