International hawala racket busted in Hyd

Hyderabad, Jul 4 (UNI) City police today busted an international hawala racket and apprehended six people, seizing Indian currency worth Rs 23.06 lakh from them.

According to a release here, the arrested people were allegedly working for Hawala racketeers Gaffar and Suresh Jain and circulating Hawala money to their clients as per the overseas instructions received from Dubai and Saudi Arabia.

The accused were delivering Hawala money to different people through Gaffar and Suresh Jain and their associates in Hyderabad when they were arrested.

The seized currency was handed over to the Directorate of Enforcement here for further investigation.

The circulation of Indian currency in this mode was in contravention of the Provisions of Foreign Exchange Management Act, 1999, (FEMA), the release added.

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