Investigation of Laundering through Jewellers

Large scale conversion of black money to gold/diamond, foreign currency has taken place between Nov 8 and Nov 18 through jewellers, currency exchange merchants and other back end entities in this supply chain. Back dated sales and other methods have been deployed by jewellers.

We seek your knowledge and understanding of what are the various types of transactions that would have taken place and how can they be investigated most effectively.

It is possible that some of the money may still be there in the supply chain to be deposited as sales while some may have already been deposited/exchanged.

We look forward to your inputs! more  

View all 31 comments Below 31 comments
Gold business has to be 100% Cashless, if govt wants to encourage Digitization . Have a surprise check everyday identifying honest officer, or even ex honest officers , could be from any department. I am sure there must be at least 20% employees, who is not corrupt. more  
One wonders does Govt. have sufficient man power and will to track such benami properties. At the most that could be limited political vedanta exercise .Ultimately matter will go to courts. Do you think courts have time to deal with so many cases . Already Govt. failure in notes demonetization is simple evidence. more  
Whom do all of you want to trust such cases for investigation, they are all highly corrupt whether they are CBI officers, IT officers, ED officers or police officers. How can a corrupt officer investigate such cases. Plz think over it before giving any comment. Nearly 82 kgs of GOLD has been stolen or replaced or misappropriated by CUSTOM officers at IGI airport, Delhi from HIGH VALUE SECURITY GODOWNS. more  
Evidence of previous gold sale in the form of receipts is not available with them And most of the raw gold is with gold smiths and the rest as precious stones and property. more  
Generation of black money has to be plugged rate of taxation has to be brought at nominal level and moral value has to be uplifted more  
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