According to the latest Financial Intelligence Unit (FIU) report released in March 2017, the number of Counterfeit Currency Reports (CCRs) in India's banking channels was 353,837 in Financial Year (FY) 2014-15. The number of such instances stood at 8,580 CCRs in 2007-08; 35,730 in 2008-09; 127,781 in 2009-10; 251,448 in 2010-11; 327,382 in 2011-12; 62371 in 2012-13; and 301,804 in 2013-14. FIU began compiling this data in 2007-08, when the Government mandated it to receive such reports from banks under the Prevention of Money Laundering Act (PMLA). [CCR is defined as the usage of a forged or counterfeit currency notes or bank notes as genuine or where any forgery of a valuable security or a document has taken place during a cash transaction at a bank.] The amount of Fake Indian Currency Notes (FICNs) detected were not specified in the report. more