Foreign exchange dealers under lens for large overseas remittances

ED and Directorate of Revenue Intelligence have detected a significant increase in the outflow of Indian money, specifically into four countries--Thailand, Dubai, Singapore and Hong Kong

Foreign exchange dealers have come under the scanner of central probe agencies for allegedly misusing the facility of remitting money abroad including the liberalised remittances scheme (LRS) of the Reserve Bank of India (RBI).
 
The Enforcement Directorate (ED) and the Directorate of Revenue Intelligence (DRI) have detected a significant increase in the outflow of Indian money, specifically into four countries — Thailand, Dubai, Singapore and Hong Kong, sources in the know said. That has prompted probe agencies to examine whether legal routes have been misused to launder money.
 
Estimates suggest these countries have received Indian money of about