Crackdown on Hawala Operations: Undeclared Dubai Assets Under Scrutiny

The Enforcement Directorate is investigating undisclosed assets held by Indians in Dubai, conducting searches in Delhi and Goa. This probe, under the Foreign Exchange Management Act, targets Hawala operators involved in illegal money transfer. Data collection aims to substantiate allegations of hidden Dubai assets.

The Enforcement Directorate took decisive action on Friday by carrying out searches at the premises of alleged Hawala operatives in Delhi and Goa. This operation is part of a broader investigation into undisclosed assets held by Indians in Dubai, according to official reports.

The investigation is being executed under the Foreign Exchange Management Act (FEMA), focusing on gathering concrete evidence against those suspected of holding unreported assets abroad. Agency sources stated that substantial data has already been collated concerning these hidden assets.

Hawala operators are notorious for moving money illicitly within the country and internationally, mainly through cash transactions. The current search operations aim to further reinforce the allegations with solid evidence.

(With inputs from agencies.)