Hawala in a sentence

How hawala works In the most basic variant of the hawala system, money is transferred via a network of hawala brokers, or hawaladars.

A year after the Taliban took over Kabul, the cost of transferring funds through the hawala system from around 2 percent to a whopping 13 percent—creating a cash crunch and further halting economic activity.

The CBI has alleged that Nair was involved in meeting the other co-accused and liquor manufacturers as well as distributors at various hotels in Hyderabad, Mumbai and Delhi for arranging “ill-gotten money through hawala operators”.

The ED chargesheet states that a portion of the alleged kickbacks was diverted through “hawala” channels for the Aam Aadmi Party’s Assembly poll campaign in Goa last year.

According to the FIR, hawala operators were used to arrange and distribute this illicit money, and police officers and employees were also used as couriers to distribute the protection money.

The ED's investigation into Mahadev Online Book revealed large-scale hawala operations aimed at siphoning off the proceeds of betting to offshore accounts.

Mobile banking and payment platforms () are revolutionizing the financial system in some African countries and other states globally, as an ethical and legal alternative to the Hawala system.

Officials said that the syndicate had a well-established chain of supply both within and outside the country with payments for raw material and finished products conducted through ‘hawala’ channels.

Peng, according to sources, is alleged to be holding a fake Indian passport and tax officials said he created a “web of sham companies to launder hawala funds to and from ” over the past two to three years.

The hawala system is an informal platform of transferring money and has been a major channel of cash transaction used by terror groups.

While Chawla fixed matches through top cricketers in South Africa, India, Pakistan and other countries, D-Company ensured that bids are settled smoothly through overseas hawala transactions.

The chargesheet also stated that a vast network of hawala and other channels have been used to smuggle narcotics to India through the legitimate trade route between India and Pakistan under the garb of import of rock salt.

Salman has been receiving funds, being sent by FIF operators and its associates, through hawala operators to further their activities and create unrest in India and carry out terrorist activities, said the official.

The CBI has alleged that Jain was assisted in routing this “ill-gotten money through shell companies” by chartered accountant JP Mohta and a hawala operator Rajendra Bansal.

The ED had already framed charges against Kashmiri separatist leader Shabir Shah and alleged Hawala dealer Muhammad Aslam Wani in a money laundering case.

Hawala is attractive to customers because it provides a fast and convenient transfer of funds, usually with a far lower commission than that charged by banks.

One of the enduring methods has been the use of parallel banking or Informal value transfer systems such as hawala that allowed people to move money out of the country avoiding state scrutiny.

Terms used in other jurisdictions include hundi, hawala, poe kuan, informal funds transfer, underground banking, parallel banking, informal funds transfer and money/value transfer.

Today, hawala is probably used mostly for migrant workers' remittances to their countries of origin.