KOZHIKODE: Though the demonetisation drive dealt a body blow to the hawala racket, the illegal network is thriving again.
The introduction of the Rs 2,000 currency note has come as a blessing in disguise for the hawala rackets transacting large amount of money. Enforcement agencies, which have been tracking the activities of the rackets, opine the carriers of the hawala rackets prefer currencies of high denomination, especially Rs 2,000 as it is most convenient for them.
As per a preliminary data, hawala money worth Rs 2 crore in the denomination of Rs 2,000 was seized from carriers in the northern districts during the past 10 months form November 2016 to August 2017.