By IANS
Thiruvananthapuram : Kerala Home Minister Kodiyeri Balakrishnan Tuesday informed the state assembly that illegal transfer of money, or hawala as it is locally known, to the state by agents abroad is a big business that is worth more than Rs.100 billion a year.
"Over the years investigation of cases of those who have been arrested while engaging in hawala transaction reveals that this gang has relationship with anti-national forces. These conduits of hawala transactions are also engaged in transferring huge amount of counterfeit notes," said Balakrishnan here.
He was making this statement after the Kerala High Court last week came down heavily on the quality of policing prevailing in the state after the Kondotty police in Malappuram district failed to register a case in connection with the looting of hawala money worth Rs.4 million between two gangs.
The home minister also informed the house that a four-member high-level Kerala police team has been formed to deal with the cases and also coordinate with the central agencies. "A special team under Vincent M. Paul, an inspector general of police, has also been formed to be vigilant to tackle the hawala business," said Balakrishnan.
Hawala is a parallel system of money transfer basically operated by a group of people who are based in the Middle East.
Anyone who wants to send money from abroad through hawala means can get in touch with agents in the Middle East. The deal is complete when the equivalent money in Indian currency is handed over to people in India.