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Nation Other News 08 Nov 2017 Hawala traders laid ...

Hawala traders laid their hands first on new notes

DECCAN CHRONICLE.
Published Nov 8, 2017, 12:48 am IST
Updated Nov 8, 2017, 12:48 am IST
Sources reveal that hawala transactions are still operational and that organised syndicates have simply adopted a new modus operandi.
Revenue Intelligence wing have seized large amounts of foreign currency.
 Revenue Intelligence wing have seized large amounts of foreign currency.

Hyderabad: Though the authorities anticipated that demonetisation would put an end to hawala operations, the smuggling of gold and money laundering, this does not seem to have been the case.

Sources reveal that hawala transactions are still operational and that organised syndicates have simply adopted a new modus operandi. In fact, within a few weeks of demonetisation, the pol-ice caught several gangs in possession of new currency notes which were being exchanged for old ones for a commission.

 

Revenue Intelligence wing have seized large amounts of foreign currency.

...
Location: India, Telangana, Hyderabad


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