India’s big crackdown! 20 export houses under scanner for illicit Pakistan trade using UAE route; trade-based money laundering suspected

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Times of India 9h ago

India’s big crackdown! 20 export houses under scanner for illicit Pakistan trade using UAE route; trade-based money laundering suspected - Times of India

Quick Summary:

Indian authorities are investigating around 20 export houses suspected of laundering money to Pakistan via the UAE.

Additionally, basic costume jewellery, with a standard market value between ₹100-150, was sent to UAE and subsequently to Pakistan at an inflated price of ₹30,000 per piece.

The investigation centres on dubious financial activities, particularly cash in advance (CIA) payments and overseas agent commissions, which were potentially used to disguise money laundering.