New Delhi: Daily raids of Income Tax and Enforcement Directorate, the government has unleashed the CBI to crack down on accounts that have seen large deposits post the demonetisation announcement.
The agency has already formed a task force led by Gujarat-cadre IPS officer Arun Sharma. Sharma’s team will also take up complaints received from the CBDT.
Arun Sharma,who is currently the head of CBI’s Banking Securities & Finance Cell.
The crackdown against money laundering has already has seen some high-value seizures, especially in Chennai and Bengaluru.
Despite the sudden ban from November 8 on high-value banknotes, money laundering networks are thriving in the country, to convert old currency to legal tender.
Jan Dhan accounts are a major source of this laundering suspected by the agency, which has suddenly shown big deposits coming in what used to be zero-balance accounts essentially opened to bring in more and more people to the formal banking sector.
Last week, Prime Minister Narendra Modi himself warned that those using the Jan Dhan accounts to launder their money will not be spared.
Apart from the illegal conversion of old notes, there have been seizures of unaccounted wealth kept as gold bullions too across the country besides stacks of cash running into crores in new denomination Rs 2000-note discovered from apartments, even cars.
An investigating is already going on at least 50 bank branches on suspicion of money laundering.