Hyderabad: The Enforcement Directorate has conducted searches at banks in the city for detecting money laundering hawala transactions post demonetisation.
It conducted searches at State Bank of India’s Dwarakapuri Panjagutta branch on Wednesday.
An ED source said, “As part of nationwide searches we have done enquiries in the city too. A team of auditors scrutinised transaction records and account statements post-November 8 regarding deposits into Jan Dhan accounts as well as inactive accounts and also money exchange. Apart from this, we are also looking into the cases forwarded by the Income-Tax Department.”
Searches were also conducted in other cities like Delhi, Mumbai, Bengaluru, Kolkata and Chennai.
It is suspected that bankers in connivance with black money hoarders resorted to exchange of demonetised notes and made deposits. The ED is empowered to check violations under Prevention of Money Laundering Act and Foreign Exchange Management Act.
