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Dawood targets the poor for money mule scheme

March 17, 2015

Dawood Ibrahim, the international fugitive, terrorist financier, and underworld kingpin, is reportedly opening bank accounts in India through unsuspecting depositors. Dawood and his “D-Gang” agents are offering money to poor people in rural areas to open new bank accounts under their own names, then turn their ATM cards back over to Dawood’s operatives. Compliance standards at rural banks are considered to be less stringent than big city bank standards. This suggests that the rural banks are not as likely to file suspicious activity reports with India’s financial regulatory authority. D-Gang has managed to launder 59,000 crore Indian rupees (940 million USD) through such schemes.

From OneIndia News on Mar. 16 (h/t Arun):

…How is the money deposited in banks:

The Enforcement Directorate which has been probing a series of such cases has found that most of the money is parked in the nationalized banks.

Out of the 1600 branches in which the money has been parked, 900 branches belong to the nationalized banks, an ED official informed Oneindia.

The money which is earned through various illegal means such as drug and arms trade and even lottery scams are parked directly into the nationalized banks by agents of the underworld.

These agents never open accounts in their own name. They target people who are in need of money and ask them to deposit the money into their accounts.

It has been found during the investigation that persons in need of money are asked to first open accounts and they are paid a sum for the same.

They are then given money and asked to deposit the same. For every transaction of Rs 100,000, the original account holder is paid a sum of Rs 5,000.

The ATM cards are handed over to the agents who use it to draw the money when ever they like…

“Whenever they like” meaning for whatever purpose or plot Dawood intends.

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