ATM Cash Vans Under Scanner To Check Black Money During Polls

By siliconindia | Tuesday, 08 April 2014, 12:35 Hrs

NEW DELHI: Thousands of private vans carrying cash for Automated Teller Machines (ATMs) across the country have come under the scanner of revenue intelligence agencies to check flow of black money during ongoing Lok Sabha polls.

An intelligence input on ferrying black money in cash vans was shared during a recent meeting between the officials of Finance Ministry and Election Commission to decide on measures to check illegal money circulation, official sources said.

These vans, carrying cash, are run by private security agencies and engaged by various banks. These vehicles were enjoying general immunity from security agencies as they are employed by banks after necessary due diligence, they said.

It has been decided to ask Indian Banks' Association (IBA) to take necessary measures and it may issue directions in this regard, sources privy to the meeting said.

The Finance Ministry is also in the know and may take necessary steps in view of the latest input, he said.

There has been a recent instance where illegal cash was found in a van carrying money for ATMs, the sources said without giving further detail of the incident.

Revenue intelligence agencies including Directorate of Revenue Intelligence (DRI), Central Economic Intelligence Bureau (CEIB) and Enforcement Directorate (ED) among others are keeping a strict vigil on movement of illegal money during the ongoing elections.

Source: PTI