DRI busts Foreign Currency Smuggling Racket involving Foreign Nationals
The latest seizure of foreign currency by DRI officers in Delhi is just the tip of the iceberg. A few carriers have been nabbed and they have pointed to the mastermind sitting in Hong Kong. With the inputs now available with the DRI, it will be possible to crush the whole racket. Obviously, this would not be the lone smuggling syndicate operating in India. To draw a bigger picture of the menace, it would call for a deep investigation into the penetration of such syndicates across the country. The fact that gold bars are being smuggled in and any amount of foreign exchange is going out illegally is a serious matter. This is not just a case of parallel economy. The crime syndicates are deeply entrenched. The players are everywhere. This should ring alarm bells as the malaise also threatens national security. The enforcement agencies will have to go into the overdrive mode to bust the demand and supply chain. – Lalit Shastri¹, Editor-in-Chief, Newsroom24x7
New Delhi: Acting upon a specific input, the officers of Delhi Zonal Unit of the Directorate of Revenue Intelligence (DRI), has intercepted seven foreign nationals at the Departure Hall of T-3, IGI Airport, New Delhi and seized a huge amount of foreign currency from them.
The recovery of foreign currency was made from the Checked-in Baggage of these foreign nationals, who were going to board a Flight to Hong Kong on the intervening night of 5 and 6 August, 2018. The Indian accomplice of this Smuggling Syndicate was also tracked down and intercepted.
The seized foreign currency was found in the luggage tightly wrapped in towels in a manner to escape detection by the agencies at the Airport. All the currencies were in the denomination of USD 100. A total of around USD 8,90,000 was sized having market value approx. INR 60.14 million.
The Investigation so far has revealed that this syndicate involves both foreign and Indian nationals stationed in Hong Kong and India. The mastermind of the syndicate who is based in Hong Kong, was involved in arranging carriers. He sent them to India with gold bars through concealment. In India, a person used to collect the gold and give foreign currency in return which used to be smuggled-out of India and over to Hong Kong. It was further revealed during investigation that the syndicate never repeats the same carriers to avoid attention of the Customs in India. In past also, DRI, has nabbed several foreign nationals involved in the smuggling of various contraband items like gold, foreign currency and Arms.
All the eight persons have been placed under arrest. Further investigation in this case is under progress.