ED Seizes Rs. 9.7 Crore, Freezes 25 Accounts in ISIS-Linked Money Laundering Probe

MUMBAI, Dec. 14 -- The Enforcement Directorate (ED) has seized movable assets worth Rs. 9.70 crore, including Rs. 3.7 crore in cash and gold jewellery and bullion valued at Rs. 6 crore, during extensive search operations carried out across 40 locations in several states. These operations are part of a money-laundering probe linked to a radicalised terror module affiliated with the banned Islamic State of Iraq and Syria (ISIS).

The searches, carried out by the ED's Mumbai unit, covered multiple locations in the Padgha-Borivali belt of Thane, as well as premises in Ratnagiri (Maharashtra), apart from other locations in north and east India. The operation was meticulously planned to ensure the seizure of funds that could have been used to finance terror activities.

According to ED officials, the probe revealed intricate financial networks that the terror module had established to launder money and support their operations. The seized assets include cash, gold jewellery, and bullion, which were found hidden in various safe locations. The cash was primarily in high-denomination notes, while the gold jewellery and bullion were stored in secure vaults and lockers.

The ED also froze 25 bank accounts linked to the terror module, preventing any further transactions that could have financed illicit activities. The accounts were found to have suspicious transactions, including large deposits and withdrawals, which were flagged by the ED during the course of their investigation.

This operation is a significant blow to the ISIS-affiliated terror module, which has been active in various parts of India. The ED has been working closely with other law enforcement agencies to track and dismantle these networks. The seizure of such a substantial amount of assets is expected to disrupt the financial backbone of the terror group and hinder their operations in the region.

Speaking to the media, an ED spokesperson stated, 'This operation demonstrates our commitment to rooting out terror financing and ensuring that no illegal funds are used to support such activities. We will continue to work tirelessly to protect the nation and its citizens from the threats posed by terrorist organisations.'

The ED's action is part of a broader strategy to combat terrorism and money laundering in the country. The agency has been ramping up its efforts to trace and seize illicit funds, and this latest operation is a testament to their effectiveness. The seized assets will be thoroughly examined to trace their origins and ensure that no funds are left unaccounted for.

In the coming days, the ED is expected to intensify its investigations and may conduct more search operations to uncover additional assets and financial links. The agency is also likely to file charges against individuals involved in the money-laundering activities, which could lead to further arrests and legal action.

This operation not only highlights the importance of robust financial regulations and monitoring but also underscores the need for continued vigilance and cooperation among various law enforcement agencies. The public is advised to remain alert and report any suspicious financial activities to the authorities.

In conclusion, the ED's seizure of Rs. 9.7 crore and the freezing of 25 bank accounts in the ISIS-linked money-laundering probe is a significant achievement in the fight against terror financing. It sends a strong message to terror groups that the Indian authorities are vigilant and will not hesitate to take decisive action to protect national security.