Indian income tax authorities in Jaipur have uncovered a money laundering scheme involving hawala networks and cryptocurrency transactions. The investigation began with raids on wedding planners in Jaipur, leading to the seizure of $2 million in cash and jewelry, along with three crypto wallets. It was discovered that cash payments were being made in exchange for cryptocurrencies like Bitcoin and Tether through hawala operators in Gujarat and Rajasthan. The authorities suspect that the nexus extends beyond Jaipur, with connections to cities like Mumbai, Hyderabad, and Delhi. They plan to conduct similar raids in other cities as part of a crackdown on unaccountable transactions in the wedding and events industry.



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