Surprise raid reveals shocking results! ED confiscates 65 million foreign currency from agencies in Kolkata
Source :NewsBharati   Date :15-Dec-2018

Kolkata, December 15: In an attempt to put criminals behind bars and stop illegal activities, the Enforcement Directorate Department confiscated almost 1.65 crore Indian and 65 million foreign currency from around nine places in Kolkata. The Enforcement Directorate officials on Thursday conducted simultaneous raids on foreign currency exchange agencies in Kolkata and seized crores in rupees as well as documents.

The raid operation involved more than 30 officers. The ED received a tip-off from the Information Bureau that crores of rupees were being siphoned out of India through hawala channels over the past several months.

The raid was performed on receiving tips on specific intelligence regarding dealings in such agencies without permission from Reserve Bank of India. The ED officials raided five places in Marques street, 1 Sudder Street, Kalakar Lane and Park Lane, and that raids were on in nine locations at the time of filing this report.

The ED officials asserted that the agencies raided would be charged a nominal fee as opposed to licensed centres and also the owners of the establishments would be questioned. The raid however also recovered documents pointing to a network of illegal foreign money exchange centres and hawala businesses in Kolkata.