Archive · 7 Nov 2025
ED Raids Delhi, Goa Hawala Operators in Dubai Asset Case
Imagine the government is looking for people in India who might be hiding money or property in another country, like Dubai, without telling anyone.
The ED, which is like a financial detective agency, is searching houses and offices of people who might help move this secret money.
They are using special laws, like the FEMA and the Black Money Act, to find out if people have bought things like houses in Dubai that they didn't report.
Recently, there's a new rule that says the tax people might not chase you for smaller amounts of secret foreign money, but bigger amounts can still lead to penalties or even jail time.
The Enforcement Directorate (ED) conducted searches on suspected hawala operators in Delhi and Goa.
The raids are part of an investigation into Indian nationals allegedly holding undisclosed assets in Dubai.
The operation aims to gather evidence under the Foreign Exchange Management Act (FEMA) and the Black Money Act.
Hawala operators are suspected of facilitating the transfer of unaccounted money for investment in Dubai's real estate.
A recent policy change by the Income Tax Department sets a threshold of ₹20 lakh for prosecuting undisclosed foreign assets, excluding immovable property.
- Who
- The Enforcement Directorate (ED)
- What
- Carried out searches at premises of suspected hawala operators as part of an investigation into undisclosed foreign assets.
- When
- Friday, November 7, 2025
- Where
- Delhi and Goa
- Why
- To gather evidence against Indian nationals allegedly holding undisclosed assets in Dubai and to combat tax evasion and illicit foreign holdings.
Enforcement Actions
Prosecution Thresholds
Focus on Undeclared Foreign Assets
Enforcement Actions
The ED is actively conducting searches and investigations, including those targeting hawala operators, to gather evidence on undisclosed foreign assets held by Indian nationals in Dubai.
Prosecution Thresholds
The Income Tax Department has revised its policy, advising officers not to initiate prosecution for undisclosed foreign assets (excluding immovable property) below ₹20 lakh, an increase from the previous ₹5 lakh threshold.
Penalties and Prosecution
Enforcement Actions
The Black Money Act provides for penalties and prosecution for failing to disclose overseas assets and income, with Section 51 of the Act listed as a scheduled offence under the Prevention of Money Laundering Act (PMLA).
Prosecution Thresholds
The Finance Act, 2024, amended the Black Money Act to set a higher threshold for prosecution, indicating a shift in focus towards larger undeclared assets while imposing a penalty of up to ₹10 lakh for non-disclosure of eligible assets.
- Agency
- Enforcement Directorate (ED)
- Locations Searched
- Delhi, Goa
- Target
- Hawala operators facilitating illicit money transfer to Dubai
- Legal Framework
- Foreign Exchange Management Act (FEMA), Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, Prevention of Money Laundering Act (PMLA), 2002
- Investigation Focus
- Undisclosed foreign assets held by Indian nationals in Dubai, particularly in real estate
- Recent Policy Change (Income Tax)
- Prosecution not initiated for undisclosed foreign assets (excluding immovable property) below ₹20 lakh (effective Oct 1, 2024)