Terror funding case: NIA-led team exchanges info on D-Company with UAE to stop Dawood Ibrahim

The terror financing network and USD 2 billion annual hawala operation of fugitive underworld gangster Dawood Ibrahim has led a joint team of National Investigation Agency (NIA), Financial Intelligence Unit (FIU), Narcotics Control Bureau (NCB) and Intelligence Bureau (IB) to Dubai, exchanging vital information on terror-funding with the UAE authorities.

The transnational criminal enterprise of D-Company operating from Dubai, London, Singapore, Colombo, Kathmandu and Mumbai has suffered a major setback after NIA crackdown last year on Dawood's associates.

$5 billion of Dawood's investment in Dubai

“Dawood has an estimated USD 5 billion of investment in Dubai to run powerful transnational crime-terror organisation providing financial services through hawala operators to all major criminal syndicates including the Mexican drug cartels and Africa-based Boko Haram apart from the Taliban, Jaish-e-Mohammad and Lashkar-e-Taiba terror groups,” said senior NIA official.

The five-member NIA team met senior UAE Counter Terrorism and Financial Intelligence officials to share details of Dawood associates active in Dubai and list of benami properties held by the fugitive gangster. The list includes Oasis Oil & Lube LCC, Al-Noor Diamonds, Oasis Power LCC, Dolphin Constructions, King Video, Moin Garments and Al Khail Heights real estate project.

D-Company sleeper cells busted last year

NIA last year busted sleeper cells getting funds from UAE-based Dawood associates to cause unrest across India after multiple raids on hawala operators in Bandra, Nagpada, Borivali, Goregaon, Parel and Santacruz areas of Mumbai and neighbouring Mira Road, Thane and Mumbra regions last year.

D-Company got a major blow on terror funding with NIA targeting sharpshooters, hawala-drug dealers, real estate managers and members of Dawood gang.

India says D-Company teaming up with terrorists

India argued that crime syndicates like the D-Company are colluding with terrorist organisations for activities like counterfeiting currency, illicit financing, arms and drug trafficking, gold smuggling and smuggling terrorists across borders.

“UAE had passed a federal decree on Anti-Money Laundering and Combating Financing of Terrorism and Illegal Organisation. An action on the list of terrorist entities operating in the UAE under the provisions of federal law on combating terrorism offences is expected soon,” explained an NIA official.

The visiting Indian delegate presented UAE counter terrorism task force with inputs on suspected fundings and hawala transactions linked to D Company criminal enterprise.