The Jammu & Kashmir State Investigation Agency (SIA) conducted searches at 22 locations in J&K and Delhi on Wednesday in connection with a case of hawala transactions in the country. The illegal raising, layering, and laundering of funds were being conducted by some individuals and entities, who channelled the funds for unlawful activities, including promoting secessionism and terrorism in J&K, the SIA said.
The searches were carried out at 18 locations in Srinagar, one each in Anantnag and Pulwama, and two in Delhi, according to a press release issued by the SIA. The agency seized incriminating material such as bank documents, cash books, credit cards, debit cards, chequebooks, invoices, mobile phones, sim cards, passports and other items during the operation.
The SIA Kashmir registered the case on the basis of an inquiry that revealed that funds to the tune of Rs 85 crore were raised and laundered in a short span of less than two years. The transactions were mostly done in cash to evade detection by law enforcement agencies, the SIA said.
The SIA said that the case pertains to illegal Hawala transactions, which are a form of informal money transfer system that operates outside the banking channels. The agency said that it is committed to dismantling the terror ecosystem in J&K by choking terror financing channels — be it hawala, human cash couriers, or banking channels.
The raids were conducted on the strength of a search warrant issued by the Special Designated NIA Court to collect evidence relevant to the ongoing investigation in the case.
Recently, hawala transactions have come to the fore after the BJP accused Chhattisgarh CM Bhupesh Baghel of having received hawala funds from illegal betting app operators. The BJP alleged that the money was used to fund the Congress's poll campaign in Chhattisgarh. The allegations came in the wake of the Mahadev betting app scam probe by the Enforcement directorate.
