How did Dawood park Rs 5,900 crore in Indian banks?
In the fight against black money there are always two sides to it. The one we know and the other we do not.
While the Indian government continues with its process of bringing back the black money from various foreign accounts, there is another problem that is daunting the Indian security agencies and there appears to be no end to it.
It has been found during investigations conducted by the Enforcement Directorate in coordination with the Intelligence Bureau and the Research and Analysis Wing that a whopping sum of around Rs 5,900 crore has been parked across 1600 branches of various banks in India which are connected with the underworld operating out of Pakistan and other countries.
How is the money deposited in banks:
The Enforcement Directorate which has been probing a series of such cases has found that most of the money is parked in the nationalized banks.
Out of the 1600 branches in which the money has been parked, 900 branches belong to the nationalized banks, an ED official informed Oneindia.
The money which is earned through various illegal means such as drug and arms trade and even lottery scams are parked directly into the nationalized banks by agents of the underworld.
These agents never open accounts in their own name. They target people who are in need of money and ask them to deposit the money into their accounts.
It has been found during the investigation that persons in need of money are asked to first open accounts and they are paid a sum for the same.
They are then given money and asked to deposit the same. For every transaction of Rs 100,000, the original account holder is paid a sum of Rs 5,000.
The ATM cards are handed over to the agents who use it to draw the money when ever they like.
300 agents in India to deposit Dawood money:
Investigations have found that there are a specific set of agents in India who carry out this racket for the D-Gang.
It has been found that there are around 300 agents spread across different parts of the country who carry out the work of depositing money into the accounts.
The Intelligence Bureau and the R&AW have managed to track over 1000 numbers which were used by these agents in the past four to five years.
All these calls were being made to handlers in Karachi who gave orders on how to pick up the money and deposit it.
The agents are tasked with finding gullible persons who are in turn told to open accounts in various banks.
They are told to go to nationalized banks as in villages the security screening is less.
The agents normally do not target the banks in the cities since the scrutiny is more.
Moreover, the amounts deposited never exceed a lakh and the same account is never used more than three times as this could lead to suspicion.
The lottery scam:
Another racket that has come to light is that these agents have been earning dirty money through a lottery scam. They announce fake lotteries and persons interested are told to deposit sums of Rs 50,000 in banks specified by the agents with the assurance that they would get Rs 1 crore.
Several persons have fallen trap to this racket. These agents of the D gang have once again targeted the gullible people to earn a dirty buck.
At first these persons are told to deposit Rs 1,000 with the assurance that they will win a lottery of Rs 10,000.
This is a trap which is set at first to lure the customer into believing the lottery is genuine in nature.
When a customer wins the fake lottery for the first time he is automatically lured into the racket and has no qualms in depositing a larger sum of money the next time.
Intelligence Bureau officials say that this is a scam which could be running into easily over Rs 3,000 crores and counting.
This scam has been found to be extremely active in the states of West Bengal, Kerala, Gujarat, Odisha, Andhra Pradesh and Maharashtra.