Kochi: The Enforcement Directorate (ED) has seized Rs 14 crore in black money during raids carried out across Kerala since Tuesday morning. The action aimed against hawala racket that is well-entrenched in Kerala continued late into Tuesday night.
The agency conducted raids in high-profile commercial establishments that have not been closed down despite transacting not much business.
The Directorate officials are examining over 100 mobile phones, laptops, and digital records that were being used by the racket. The investigations have revealed that most of the hawala transactions take place through fancy shops, hotels, mobile phone shops, and fashion stores.
Although the raids began with 150 ED officials, more personnel were deployed later. Unconfirmed reports say that the investigating agency has traced the source of the hawala transactions.
Intelligence agencies had reported recently that a hawala transaction amounting to Rs 10,000 crore had taken place in Kerala recently.
Keralite expatriates play a major role in these illegal transfer of money.
