Money, money, money.
That’s how it goes in the global economy.
It is also the reason why Western Union has been getting so much flak for sending money to fake money users in India.
Western Union’s Indian customers were allegedly sent fake money via Western Union in late January, according to The Economic Times.
The fake money was apparently sent via Western Australia.
According to a report by Business Standard, Western Union sent the fake money to an address in Kolkata, a city in West Bengal state, in a matter of days.
The Indian police also found fake money on Western Union emails, which Western Union said were sent via a “third-party service provider.”
The fake funds were sent to an account in the name of a bank account in Bengaluru.
The Indian police, however, found more than $200,000 of the fake currency in the account, and the bank account was shut down.
The bank said it has suspended all payments to Western Union customers, including those in India, in line with guidelines.
Western Union declined to comment on the report.
India has a long history of dealing with counterfeit currency.
According to Business Standard’s report, in 2016, at least $3 billion was sent through Western Union and other financial institutions to fake currency users in the country.
Western Australia and Victoria have also been known to get hit with counterfeit money problems, although that issue is more widespread.
In 2018, the Indian police found a cache of about $2 billion in fake money in the city of Mumbai, along with $3 million in cash and a total of $8 million in gold.
In the U.S., fake money is considered a major financial threat, with over $3 trillion worth of counterfeit currency being deposited into the U-S.
banking system in 2017.
The Associated Press contributed to this report.