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Hiral Jain

Stealth • 6m

Hey there everyone! Day 1 of uncovering businesses that continue to operate even after being deemed illegal! The most illegal and common business is HAWALA its used by many big businesses(money laundering) and terrorist groups( to fund their groups in other countries) But what exactly is HAWALA? And why hasn't it been stopped yet by the gov?! Let's find out! Hawala is nothing but a mode of transferring your money to others. Let's understand it through an example: Let's assume persons A, B, and C, where A B operate separate businesses in different states, A made a purchase of 70lacs from B, and B urged A to immediately transfer money due to some issues, therefore A will contact C who operates hawala in Bombay and say C to transfer 70lacs to B. Wondering how will C recognise B and how C make money through this. Well A and B would share a secret code (majorly its note no) with C, upon recognition C would pay B, and C would charge some minute % of 70lacs from A. Byeeee!

19 replies17 likes
Replies (19)
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Shreyas Ramdasi

Stealth • 6m

Hawala is indeed a controversial and illegal method of transferring money that operates outside of traditional banking systems. Here's a brief overview: Hawala works through a network of brokers (hawaladars) who accept money in one location and make it available in another, often without any physical movement of cash. The process typically involves the sender (A in your example) giving money to a local hawaladar (C) who then contacts another hawaladar (possibly in a different country or region) to deliver the funds to the recipient (B), based on a pre-agreed secret code or passphrase. Hawaladars charge a fee or commission for their services, which is typically a percentage of the amount being transferred. They make money through this fee, and the secrecy of the transactions makes it challenging for authorities to track and regulate. Governments around the world have been trying to crack down on hawala due to its association with illegal activities such as money laundering and fundin

1 replies1 like

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