Cyberabad police stop SUV, find Rs 1 crore cash without documents

HYDERABAD: Cyberabad police, on Monday night, intercepted an SUV at Manchirevula under Narsingi police station limits on the city outskirts and seized Rs 1 crore cash from the vehicle. The cash was being transported without any documents.

Police suspect the cash is a part of the 'Zero business' (illegal transactions). The seized cash will be handed over to the Income Tax Department for further investigation, said DCP Madhapur M Venkateshwarlu. 

Police suspect the amount was meant for a hawala-style transaction. A hacker (Zero Money), gains access to unused bank accounts and transfers the amount from them to the customer's account. Customers give huge sums of cash to Zero Money hackers because they are led to believe that their sums will multiply.

Also, it gives them an opportunity to launder black money. There were three persons in the car which was transporting the cash. The seized amount will be handed over to the Income tax Department for further action.

Police suspect hawala

Police suspect the money was meant for a hawala-style transaction. A hacker gains access to unused accounts and transfer money to other accounts