Tuesday, 6 July 2010

India Post global money transfer comes under ED scanner

NEW DELHI: Global money transfer and banking operations of the country's postal department are being scanned by the Enforcement Directorate and other agencies for suspected terror-financing and Hawala-like transactions.

At present, there are no other official channels, besides the pure banking route, to transfer or receive money from abroad.

The Department of Posts had started this service in association with US-based Western Union Financial Services in April 2001 and customers can send or receive money from 205 countries. Read more


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