Crackdown on Financial Irregularities: ED Raids Cooperative Banks in Karnataka

The Enforcement Directorate launched searches at multiple locations in Karnataka, targeting alleged financial irregularities in cooperative banks. The raids, conducted under the Prevention of Money Laundering Act, are taking place in Bengaluru and Shivamogga districts. Further details of the investigation are awaited.

The Enforcement Directorate launched a series of raids in Karnataka on Tuesday, targeting financial irregularities in certain cooperative banks, according to official sources.

Conducted under the Prevention of Money Laundering Act (PMLA), the searches are centered on Bengaluru and Shivamogga districts, covering approximately ten locations.

Officials are continuing their investigation, with more details yet to be released regarding the scope and findings of the operation.

(With inputs from agencies.)