Tweak PMLA, make hawala operators & angadias partners in probe: Law officer | India News

The ED’s top law officer, additional solicitor general S V Raju, on Thursday suggested that the PMLA should be amended to make angadias/hawala operators as ‘reporting entity’ under the law. So far, hawala operations are deemed illegal cash transactions. The ASG’s suggestion could bring them under a regulatory framework where they may have to disclose the identity of their clients and the beneficiaries. If they are made reporting entities under the PMLA, they will be obligated to maintain records of transactions and that could be handy in probing money trail, the ASG said. Raju added that hawala operators can be seen as assisting in investigation of money laundering crimes rather than just being made an accused.