Goa Forex Network Targeted by ED in Crackdown on Illegal Currency Trading

In a significant move, the Enforcement Directorate (ED) has cracked down on an illegal foreign currency trading operation in Goa’s Mapusa Municipal Market. The ED’s action, which took place on September 26, 2025, involved a raid on the Loja Shamu shop, resulting in the seizure of substantial amounts of foreign and Indian currency, along with crucial documents and digital evidence. This operation was initiated after Goa Airport Customs intercepted around $35,000 USD, equivalent to roughly 29 lakh rupees, in foreign currency. The subsequent investigation led to the discovery of connections to an illegal forex network based in the Mapusa Market, prompting the ED’s intervention. ED officials reported the recovery of roughly 3 lakh in foreign currency, 13 lakh in Indian cash, transaction records, and two mobile phones from the raided premises.