Ahmedabad: Enforcement Directorate unearths Rs 100 crore illegal remittance scam - Tv9 Gujarati

Ahmedabad zonal unit of Enforcement Directorate (ED) has unearthed Rs 100 crore illegal international remittance scam, carried out through a Mumbai bank. ED officials conducted a survey at Andheri East branch of a leading industrial bank under Prevention Of Money Laundering Act (PMLA) and found transactions of more than Rs 100 crore by using fake KYC (know your customer) forms under Liberalized Remittance Scheme (LRS). A dummy company was created to carry out these illegal transactions by referral agents of the bank.

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