RAIPUR: The Directorate of Enforcement (ED) has traced an alleged financial network involving the illegal use of foreign debit cards to channel nearly ₹95 crore into India, with a portion of the withdrawals flagged in Maoist-affected regions.
The agency conducted pan-India search operations on April 18 and 19, 2026, targeting six locations across multiple states as part of an ongoing investigation under the Foreign Exchange Management Act (FEMA).
The probe centres on a movement known as “The Timothy Initiative (TTI)” and its associates.
According to the ED, foreign bank debit cards, specifically linked to Truist Bank, USA, were smuggled into India and used for repeated, high-value cash withdrawals at ATMs across the country.
This method enabled the organisation to bypass standard regulatory channels and the Foreign Contribution (Regulation) Act (FCRA), as TTI is not registered to receive foreign funds.
A particularly alarming aspect of the investigation involves suspicious withdrawals in Left Wing Extremism (LWE)-affected regions.
The ED stated that approximately Rs 6.5 crore was withdrawn over the past few years in areas such as Dhamtari and Bastar in Chhattisgarh.
The agency noted that the systematic nature of these withdrawals suggests the involvement of organised networks.
"The emergence of a parallel cash-based economy in Naxalite-affected areas poses a serious threat to the security and financial integrity of India," the ED stated, warning that such funds could be used for unlawful activities.
The investigation further revealed an online billing and accounting platform, purportedly controlled by overseas entities, which was used to track the ATM withdrawals and their utilisation.
The breakthrough in the case came when the Bureau of Immigration intercepted an individual named Micah Mark at Bengaluru International Airport.
Mark was allegedly found in possession of 24 foreign debit cards while attempting to enter the country.
The ED confirmed that approximately ₹95 crore was channelled into the country through this method between November 2025 and April 2026. Further investigation into the network and its potential links to other illegal activities is currently underway.