ED Raids Uncover Illegal Forex Trading in Goa, Cracks Down on Network

The Enforcement Directorate (ED) conducted a major operation in Goa, exposing an illegal foreign exchange trading operation at the Mapusa Municipal Market. On September 26, 2025, the ED raided a shop called Loja Shamu under the Foreign Exchange Management Act, seizing a significant amount of foreign and Indian currency, documents, and digital evidence. The action began following the seizure of approximately $35,000 USD (around 29 lakh rupees) in foreign currency by Goa Airport Customs. Investigation revealed that the money was linked to an illegal forex network operating in the Mapusa Market, prompting the ED to form a team and take action. During the search, approximately 3 lakh in foreign currency, 13 lakh in Indian cash, chat records related to illegal forex transactions, and two mobile phones were recovered.