Hyderabad: How pictures of Rs 10 or Rs 20 notes are used to transfer huge drug money across borders

Hyderabad: A photograph of Rs 10 or Rs 20 note was all it took to move drug money worth lakhs across borders.

That simple ‘token system’ became the authentication code for a hawala racket that channelled funds from Indian peddlers to Nigerian handlers.

Sleuths of the anti-drug agency EAGLE, who cracked the network with simultaneous raids in Mumbai and Rajasthan on Monday, seized Rs 2.5 crore in cash and arrested at least 10 people.

The Modus Operandi

Investigators revealed that once a drug peddler handed over cash, the hawala operator clicked a picture of a low-value note and sent it as proof. The same image would then be forwarded to the Nigerian associate.

When the money reached its overseas contact, usually a man identified as Pascal, the collector would show the identical note to claim the cash.

For every Rs 1 lakh routed, operators pocketed commissions of Rs 300 to Rs 500. Sources said the racket ensured a smooth, undetectable transfer of drug proceeds to foreign handlers.

Cash hauls and raids

During Monday’s raids, EAGLE teams stumbled upon heaps of small-denomination notes, which formed the backbone of the authentication process. In all, Rs 2.5 crore was seized. Twenty-one teams fanned out across Mumbai and Rajasthan in the coordinated crackdown.

Links to earlier Goa Bust

The latest raids are an extension of EAGLE’s June operation in Goa, where hawala operator Uttam Singh was caught accepting money from Nigerian national Maxwell. Investigators believe the newly arrested suspects were part of the same cartel.

Key suspects under the scanner

Among those identified as kingpins of the operation are Jaganlal, Ram, and Chetan. Officials are now trying to trace the drug peddlers who handed over their earnings to these operators. “The racket was well-structured and relied on coded trust signals rather than written records,” an officer said.

Separate Case: Stash of demonetised notes unearthed

In a parallel development in Hyderabad, task force teams arrested four men with demonetised Rs 500 and Rs 1,000 notes valued at nearly Rs 2 crore. Two suspects were first nabbed in Narayanguda, leading to the arrest of two more and a search at a Miyapur house.

Police suspect the gang had collected the notes from various sources, luring people with false promises of converting them into legal tender. Investigations are underway to identify the suppliers of the old currency.