GET Stock QuotesNews18 APP
News18 English
cricketnext
»
2-min read

Gold Smuggling Along Indo-Bangladesh Border Increases Post Demonetization

The gold makes its way into India from Dubai via Bangladesh. The gold then goes to hubs like Bowbazar and Burrabazar in Kolkata, where is then turned into ornaments and re-routed to other parts of the globe.

Prema Rajaram | CNN-News18

Updated:August 7, 2017, 9:58 PM IST
facebookTwittergoogleskypewhatsapp
Gold Smuggling Along Indo-Bangladesh Border Increases Post Demonetization
Representative image
Kolkata: Post demonetisation, gold has overtaken counterfeit currency as the favoured commodity for smuggling along the India-Bangladesh border.

Sources told CNN-News18 to India smuggling of counterfeit currency through the Benapole- Petrapole crossing has reduced post demonetisation as the security features of the new currency notes are hard to match.

However, security agencies along the Indo-Bangladesh border have now noticed an increase in gold smuggled.

The gold makes its way into India from Dubai via Bangladesh. The gold then goes to hubs like Bowbazar and Burrabazar in Kolkata, where is then turned into ornaments and re-routed to other parts of the globe.

Some of the gold is kept in the country as reserve as it is a safer method to stash black money.

There is a huge demand for gold in India smugglers from Bangladesh make a lot of money. They pay 3000 Bangaldeshi Taka per tola of gold, which is about 11.66 gm. Gold worth 45,000 Taka (Rs 35,545) is sold in India for 48,000 Taka (Rs 37,915). (One Rupee = 1.27 Taka)

Bangladeshi security agencies have noticed that cattle smuggled from India to Bangladesh are often traded with the smuggled gold. The modus operandi keeps changing to avoid detection.

The gold is smuggled through youngsters and sometimes elderly people and the gold is hidden in the soles of footwear, in sweet packets, in strips around suitcases and mobile phones. The small time smugglers get caught but not the big operators.

Around five thousand Bangladeshis travel to India daily through the Benapole-Petrapole Border Crossing. In the last two years, the Customs in Bangladesh and Border Guards Bangladesh together have seized around 20 kg of gold bars from 25 people.

On the Indian side, joint operations by the Customs Department and Border Security Force show a consistent increase in gold smuggling since March this year.

P S R Anjaneyulu, IPS, IG BSF South Bengal Frontier, said, “Most of these havala operations seem to be merged with this gold smuggling. The BSF has so far seized 27 kg compared to 14 kg last year. We are just eight months into the year. I am sure this is only the tip of the iceberg. If we include the local customs, the Police and the customs in Bangladesh, I am sure this would be far higher, about 60-70kg.”

Smuggling points at Benapole in Bangladesh have now been sealed. There is strict vigil in no man’s land and in the villages that lie between the fencing along the India-Bangladesh border.

Some smugglers get caught during checking by immigration, customs, BGB and BSF officials or by specific information received on possible smuggling attempts along through the land route. While there is a tight vigil along the International border, it is still a tough task to nab smugglers.
Read full article
Next Story
facebookTwittergoogleskypewhatsapp

Live TV