Dept of Revenue intercepts two people carrying illegal foreign money worth Rs 3.7 crore

  • Home
  • Dept of Revenue intercepts two people carrying illegal foreign money worth Rs 3.7 crore

Sushmita Goswami | Nov 27, 2021 | Views 264635

Dept of Revenue intercepts two people carrying illegal foreign money worth Rs 3.7 crore

Dept of Revenue intercepts two people carrying illegal foreign money worth Rs 3.7 crore

Using data analytics, the Directorate of Revenue Intelligence gathered detailed intelligence on two travellers attempting to smuggle foreign currency out of India as part of Operation Cheque Shirts. In the early hours of November 26th, 2021, DRI operatives intercepted these two travellers at Mumbai’s Chhatrapati Shivaji Maharaj International Airport. They had plans to travel to Sharjah. Foreign cash in the shape of US Dollars and Saudi Dirhams, valued at Rs 3.7 crore, was discovered in their luggage.

The foreign money was discovered hidden deep within the carry-on luggage’s cleverly built fake bottoms. Ordinary baggage scans would have been difficult to detect because to the mechanism and manner of concealment.

The two travellers who were apprehended lacked the necessary paperwork for either illegal possession or legal export of the foreign money. Section 110 of the Customs Act of 1962 was used to seize the foreign cash recovered from these travellers. The matter is still being investigated.

In addition to being considered “smuggling” under the Customs Act, illicit money exports provide a mechanism of laundering revenues from illegal and criminal activity. It also poses a serious danger to the country’s economy and security.

DRI keeps a close eye on smuggling of foreign currency, gold, narcotics, and other illegal products into and out of India and is always ready to act. In the last one and a half months, this was the fourth major foreign currency seizure at an international airport.

StudyCafe Membership

Join StudyCafe Membership. For More details about Membership Click Join Membership Button

Join Membership

In case of Any Doubt regarding Membership you can mail us at [email protected]

Join Studycafe's What's App Group or Telegram Channel for Latest Updates on Income Tax, GST, Companies Act, Judgements and CA, CS, ICWA, and MUCH MORE!"




Leave a Reply