ISIT to investigate money-laundering case

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Follow us:WhatsappFacebookTwitterTelegram.cls-1{fill:#4d4d4d;}.cls-2{fill:#fff;}Google NewsThe investigation into the suspicious bank transactions linked to either money-laundering or terrorist funding in the district has been handed over to the Internal Security Investigation Team (ISIT) following similar cases surfacing at Malappuram and Kozhikode.According to a senior police officer, the inquiry was handed over to the Aluva-based ISIT. “The preliminary investigation suggested that the incident is merely the tip of the iceberg,” he said.ISIT Superintendent Sasikumar acknowledged the information, but said that the agency is yet to study the case files and commence the investigation.The sleuths have tracked down 11 bank accounts in the Wadakkanchery region through which Rs 43 lakh was transacted.The remittances to these accounts were made from 14 different locations in Rajasthan, Maharashtra and Andhra Pradesh.The police could not make much headway in the investigation despite arresting five persons in this regard. The Intelligence Bureau had also launched an inquiry into the monetary transactions that occurred through banks in Wadakkanchery during the last couple of months after some youths lodged complaints in this regard.first published:August 20, 2012, 12:11 ISTlast updated:August 20, 2012, 12:11 IST
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The investigation into the suspicious bank transactions linked to either money-laundering or terrorist funding in the district has been handed over to the Internal Security Investigation Team (ISIT) following similar cases surfacing at Malappuram and Kozhikode.

According to a senior police officer, the inquiry was handed over to the Aluva-based ISIT. “The preliminary investigation suggested that the incident is merely the tip of the iceberg,” he said.

ISIT Superintendent Sasikumar acknowledged the information, but said that the agency is yet to study the case files and commence the investigation.

The sleuths have tracked down 11 bank accounts in the Wadakkanchery region through which Rs 43 lakh was transacted.

The remittances to these accounts were made from 14 different locations in Rajasthan, Maharashtra and Andhra Pradesh.

The police could not make much headway in the investigation despite arresting five persons in this regard. The Intelligence Bureau had also launched an inquiry into the monetary transactions that occurred through banks in Wadakkanchery during the last couple of months after some youths lodged complaints in this regard.