FB pic of car, LPG delivery clue help ED crack money laundering case

DISTINCT clues ranging from Facebook images and LPG gas cylinder deliveries to intelligence reports from Chennai Customs and data from the Tamil Nadu government's commercial taxes wing were crucial to the Enforcement Directorate busting the International Trade-Based Money Laundering (TBML) scam in Chennai.

- SIDDHARTH PRABHAKAR

Detected in 2016, the scam orchestrated the remittance of US dollars worth ₹120 crore to Hong Kong through accounts of multiple shell companies at Indian Bank and Syndicate Bank in lieu of faked imports of electronics. The bank accounts themselves were created using forgery and impersonation. ED's Chennai zone has got six convictions from 2019-2024 in the cases till date, which forms 14% of the agency's 42 all-India count since the PMLA came into force. The trial in some more related cases is still ongoing.

In September 2016, it was the then manager of Indian Bank's Thousand Lights branch, who flagged the first alert after noticing suspicious international transactions in newly opened current accounts of eight companies. He quickly verified with Chennai Customs the genuineness of import documents submitted by the account holders to send out foreign currency to Hong Kong.