In news– Recently, the Directorate of Revenue Intelligence (DRI) arrested four foreign nationals and seized 85.535 kg gold from their possession during an intelligence operation code-named “Molten Metal.”
About Operation Molten Metal-
- It was reported that four foreign nationals were found to be using sophisticated metallurgical techniques to convert the smuggled gold in the form of ‘EI’ laminates into bar/cylindrical form for further distribution.
- The ‘EI’ laminates of the transformers were found to have been made of gold-coated with nickel, essentially to hide the identity of the gold.
- DRI indicated that the gold smuggled in the form of machinery parts was being melted and moulded into bar/cylinder shapes before being disposed of in the local market.
About Directorate of Revenue Intelligence (DRI)–
- It is India’s apex anti-smuggling intelligence, investigations and operations agency.
- It was started in 1957.
- It works under the Central Board of Indirect Taxes & Customs, Ministry of Finance, Government of India.
- DRI is the major intelligence agency which enforces the prohibition of the smuggling of items including gold, diamonds, electronics, foreign currency, and counterfeit Indian currency.
- It is tasked with detecting and curbing smuggling of contraband, including drug trafficking and illicit international trade in wildlife and environmentally sensitive items, as well as combating commercial frauds related to international trade and evasion of Customs duty.