Black Money Cleaning in India

The black money cleaning scam is also known as ‘Black dollar scam’. It is fairly active mostly in the Asian countries and in its member countries. Reports have been coming for new victims to become targets, again and again, irrespective of repeated media reports and warnings of the police forces.

This is how it happens…

For those who are not familiar with the black money or the black money cleaning scam, it goes somehow like this:

• First, the fraudsters meet with their victims. They are often introduced by an innocent friend of the victims.

• Second, the fraudsters then try to build romantic relationships or friendships with their victims to win their complete trust.

• Third, this is the crucial stage. Here a friend appears of the victim who has just arrived from abroad with a huge amount of money but the money is in disguise by black color and they give a reason for that to avoid the customs detection.

• Fourth, now the fraudsters play with the greed of their victims. They say that the ‘friend’ has approximately US$ 100 Million but all are in black. They say that they need a chemical to clean the notes. To give a demo and to increase the greed of their victims, they show them cleaning a note with their chemical. But after that, they give excuses for falling short of cleansing ink.

• Fifth, now they demand money from the victims to purchase cleansing ink. On behalf of that, they promise to offer them a good percentage of the black money.

• Sixth, in this way, the fraudsters take away the hard-earned money of the victims and in return give nothing to them. Finally fooling people, they are gone without leaving a trace.

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What is the cleaning process?

The frauds make their victims fool by telling them how costly is the cleansing ink is so that they can milk money from them. Cleaning one note they get it verified by them about its authenticity. Generally, the US dollar notes are primarily coated with PVA (polyvinyl acetate) glue. Then various other types of glues including white glue, wood glue, school glue, carpenter’s glue, and Elmer’s glue are used under the number of names. After the glues are dried, they dollar notes are coated with iodine tincture.

The fraudsters use anything to wipe out the ink from the notes like talcum powder or aspirin dissolved in water… who cares!

The black money cleaning in India is continuing because most of the victims do not report the crime because of getting arrested!

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