New notes worth Rs 93 crore unearthed in Bengaluru raid by ED
The Enforcement Directorate (ED) cracked down on Monday the racket of money laundering in Bengaluru with the sleuths posing as customers. Several raids were conducted.
The ED raid is likely to expose the nexus between bank officials and money laundering touts, said reports.
Reports said the touts were charging upto 35 per cent commission to convert old notes which were rendered useless after the 500 and 1000 note currency ban by the union government to flush out black money from the economy.
The ED has been conducting nationwide raids to unearth such money laundering rackets.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
