ED searches 50 bank branches to check money laundering
Sources in the ED said the agency has carried out searches following allegations that black money was being converted into white by charging a special interest rate.
- Dec 7, 2016,
- Updated Dec 7, 2016 4:40 PM IST
The Enforcement Directorate on Wednesday carried out searches at various places in Kolkata including Canara bank in camac street.
Sources in the ED said the agency has carried out searches following allegations that black money was being converted into white by charging a special interest rate.
Based on the inputs, the Agency launched 'enquiry of records' operation at over 50 bank branches across the country to detect money laundering and hawala dealing instances through these channels.
The Investigating agency is probing the possible money laundering case.
Earlier, the ED officials from the Kolkata zone had seized Rs 10 lakh cash in new currency from the premises of a doctor in the West Bengal capital.
ED is the central agency to enforce two laws - the Foreign Exchange Management Act (FEMA) and the Prevention of Money Laundering Act (PMLA).
The Enforcement Directorate on Wednesday carried out searches at various places in Kolkata including Canara bank in camac street.
Sources in the ED said the agency has carried out searches following allegations that black money was being converted into white by charging a special interest rate.
Based on the inputs, the Agency launched 'enquiry of records' operation at over 50 bank branches across the country to detect money laundering and hawala dealing instances through these channels.
The Investigating agency is probing the possible money laundering case.
Earlier, the ED officials from the Kolkata zone had seized Rs 10 lakh cash in new currency from the premises of a doctor in the West Bengal capital.
ED is the central agency to enforce two laws - the Foreign Exchange Management Act (FEMA) and the Prevention of Money Laundering Act (PMLA).