New Delhi, 17 June: The Enforcement Directorate (ED) is investigating an alleged cross-border funding network involving a US-based non-governmental organisation and several India-based operatives. According to investigation details, authorities are examining the movement and utilisation of foreign funds through a network of overseas-issued debit cards, which investigators claim may have bypassed established banking and regulatory channels.
The probe focuses on the alleged use of debit cards issued by a US bank and distributed to individuals in India who were reportedly not the original account holders. Investigators estimate that foreign funds worth approximately ₹92.55 crore were accessed through the network between November 2025 and April 2026, while ATM withdrawals linked to the operation are estimated at nearly ₹44 crore between January 2024 and March 2026. The agency is also examining allegations that multiple cards were issued under a common identity, raising concerns over compliance with Know Your Customer (KYC) norms and financial disclosure requirements.
The investigation expanded following the interception of an individual at Bengaluru’s Kempegowda International Airport, where multiple foreign debit cards were allegedly recovered. Subsequent searches reportedly led to the seizure of cash and additional financial documents. Apart from financial irregularities, investigators are also examining the broader activities of the organisation and its outreach programmes in India. The ED has stated that the investigation is ongoing and further details are expected as the inquiry progresses.
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