Millennium Post

DRI detects Rs 485-cr export fraud cases

The Directorate of Revenue Intelligence (DRI) has detected cases in which around
Rs 485 crore were laundered outside India through undervaluation of exported goods.

Minister of State for Finance Jayant Sinha said as many as 11 such cases involving Rs 485.07 crore were detected by the DRI during 2013-14.

“Certain cases have been detected by the DRI wherein undervaluation in the export of products have been resorted to launder and transfer money outside India,” he said in a written reply in the Lok Sabha today.

Precise quantification cannot be done as investigations conducted by DRI reveal that misinvoicing in the products exported is one of the mediums of trade used to launder and transfer money outside India, Sinha said while responding to a query on whether misinvoicing of products exported constituted about 99 per cent of total illicit outflow of money. The DRI had detected 10 such cases involving Rs 95.22 crore in 2012-13.

“All the field formations including DRI have been sensitised to prevent and detect any such instance of misinvoicing in the export of products,” the Minister said.

In reply to another question, Sinha said a case of improper checking or scanning by Customs officials deployed in Nhava Sheva sea port was noticed by the DRI in 2012-13.

In that case, a container of cigarettes declared as furniture was sought to be cleared inspite of scanning image showing discrepancy.

“The misdeclared cargo of cigarettes valued at Rs 5.05 crore were recovered and seized and appropriate action under the provisions of Customs Act, 1962 initiated against all concerned including the officers found to be involved,” he said.

Further, strict instructions have been issued to ensure proper checking and scanning as per laid down procedure, Sinha said.

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