Now Bank Lockers are used for Money Laundering

After continuous raids at several locations across the country, in a first case, Income Tax Officials have raided at a bank branch to seal the lockers of a company. IT officials sealed the multiple lockers held at Bank of Maharastra’s Parvati Branch and belonged to an American Equipment supplier.

The counting of cash began on Wednesday afternoon. Officials had sealed the company’s 15 bank lockers at the branch on Tuesday night. Till Wednesday evening, officials had unearthed Rs 10 crore and the counting was expected to continue till Thursday morning.

While having multiple lockers at same branch or different branches isn’t a cause of concern as it is very normal, what is suspicious is that these entities are getting unlimited supply of new currency notes at a time when there is hard limits placed by Government to control money laundering.

“We found through CCTV footage that these lockers were being operated very frequently by individuals, which made us suspicious. On investigation, we found that all 15 lockers belonged to a single company,” a senior I-T official said.

A bank spokesperson confirmed the searches but said they were waiting for clear details of the exact amount recovered. “The company is an old current account customer of the bank. BoM has no role in this whatsoever,” he said.

Tags : Bank LockersBanksDemonitizationMoney Laundering
Raju Chaurassiya

The author Raju Chaurassiya

Often in a major event, minute details are ignored which are crucial for such events. I love to dig such minute details of the events i focus on. And yes, i love writing a lot!..