The Indian Research and Analysis Wing (RAW) has uncovered a major money laundering operation tied to a Sri Lankan casino, allegedly used by Indian billionaires to launder undisclosed earnings.
The operation, involving a travel agency called Hamoos Travels, has raised alarms within the Indian intelligence community and law enforcement agencies.
Reports indicate that Hamoos Travels, a company offering services for Indian tourists visiting Sri Lanka, has been facilitating money laundering activities.
What started as a typical travel agency with flight and hotel booking services has reportedly expanded to offer access to Sri Lankan casinos, where payments for gambling can be made directly in India.
This has made the casino a popular choice for laundering black money from India.
The casino linked to Hamoos Travels is owned by a prominent Sri Lankan business tycoon, and its role in the laundering scheme is central.
The first phase of the operation involves transferring large sums of black money from India to the casino.
Once the money arrives, an agent travels to Sri Lanka to gamble.
The agent receives a substantial portion—about 80%—of the transferred amount as “winnings.” The remaining 20% is kept by the casino as commission for facilitating the laundering process.
This illicit operation, which has been ongoing for several years, drew the attention of Indian intelligence agencies due to the increasing number of Indian nationals reportedly receiving large casino winnings in Sri Lanka.
RAW launched an investigation and discovered that all of the casino winnings being transferred from Sri Lanka originated from a single casino.
RAW subsequently accessed the casino’s data, revealing that none of the individuals involved were genuine winners.
According to financial intelligence, the winnings were merely part of the laundering scheme, with the 20% commission going to the casino while the rest was funneled back to the launderers as “winnings.”
Based on this intelligence, Indian authorities have launched a major operation. The employees of Hamoos Travels attached to its Sri Lankan operations were arrested, including 65 individuals. Among those arrested are a number of Sri Lankan women.
In response to this operation, the Indian government has issued a warning to its citizens, advising them not to visit Sri Lanka to gamble in casinos.
Meanwhile, the Sri Lankan casino industry is reeling from the fallout.
Casinos that once saw large numbers of Indian nationals visiting in groups have seen a sharp decline in business.
One employee of a major Sri Lankan casino revealed that the number of Indian gamblers, who previously numbered over 150 each weekend, has now dropped to zero.
In a statement, an official from the Indian Embassy’s Commercial Section said that the Indian government will engage in diplomatic discussions with the Sri Lankan government to address the situation.
The casino in question has already begun to feel the financial impact, laying off a significant number of staff and announcing plans to close one of its major properties in April.