Hyderabad: The Telangana Anti-Narcotics Bureau (TGNAB) busted a hawala racket operating from Hyderabad, exposing an intricate web of illegal fund transfers, drug trafficking, and international money laundering. The network, operating covertly across key commercial areas of the city, is believed to have facilitated the movement of hundreds of crores of rupees, both within India and abroad.
Several significant seizures were made by authorities in recent crackdowns in 2023 and 2024. In one case, three suspects were detained on their way to Jubilee Hills after Rs 3.35 crore was found in a luxury car in Banjara Hills. In Sultan Bazar, authorities seized Rs 1.21 crore in yet another significant raid this year. Two persons from Rajasthan admitted to working for a handler stationed in Mumbai who was known as Bablu.
The investigation took an international turn with the arrest of Nigerian drug kingpin Ebuka Suji. Authorities disclosed that Suji used currency intermediaries to transfer Rs 120 crore abroad, giving the scheme a worldwide scope. According to officials, these transactions were conducted outside of all established financial systems using unofficial hawala methods.
Officials claim that the hawala system makes it possible to send money both internally and abroad almost instantly and covertly. Drug sales, tax evasion, cybercrime, and the flow of illegal monies are all common uses for these transactions. Forex brokers process these payments and charge a commission of up to 40%.
According to officials, Hyderabad’s hawala hotspots include Amberpet, Begum Bazar, Sultan Bazar, Secunderabad, Abids, Chatrinaka, Katedan, and Banjara Hills. Operations in these areas charge Rs 1,000 per lakh and use coded language and trusted couriers to evade detection, they claimed.
Despite frequent election-time seizures of Rs 100- Rs 200 crore, officials estimate the annual volume could easily reach Rs 2,000- Rs 3,000 crore if daily checks were implemented. “These networks are deeply entrenched, tech-savvy, and well connected,” a senior officer noted.
