Crypto under radar ahead of Assam polls, enforcement agencies intensify surveillance
State authorities are tracking digital assets, cash movement, & transport corridors to prevent illegal funding in the upcoming Assam elections
File image of checking lead by Assam Police at Guwahati Railway Station (Photo: AT)
Guwahati, March 25: Acting on intelligence inputs, law enforcement agencies, including the State police, have intensified surveillance over the suspected use of cryptocurrency to channel unaccounted funds in Assam ahead of the Assembly polls.
“With digital assets offering anonymity and cross-border transferability, investigators fear that crypto transactions could be exploited to bypass traditional cash seizures and fuel illicit election spending, more in view of the quantum jump in assets of political leaders across parties,” an official source said.
“We are monitoring suspicious wallets and have tightened cyber intelligence to curb the influence of hidden money flows. There is information on the use of cryptocurrency, which we are investigating,” the source noted.
It further added, “Unlike popular belief, cryptos such as Bitcoin can be split into tiny fractions, making them suitable for micro-payments. These fractions can be converted to any currency through P2P (Peer-to-Peer) crypto exchanges”.
An Assam Police official further pointed out the challenge of instant transfers, similar to UPI and mobile banking, which the force is keeping under close watch.
“Too many transactions, even in smaller amounts, would be marked as suspicious and placed under the radar,” the source said, while adding that it is working in close coordination with banks.
Moreover, the Reserve Bank of India is also monitoring OTP-based micro withdrawals from ATM which do not even require Debit cards.
In the last Assembly polls in the State in 2021 law enforcers had confiscated items worth more than Rs 100 crore, a steep jump from 2016 polls.
The law enforcers had seized Rs 11.7 crore in cash and Rs 2.8 crore in precious metals alongside Rs 17.2 crore in liquor, Rs 27 crore in drugs and Rs 4.8 crore in freebies among others.
Another source in the Income Tax department, requesting anonymity, confirmed that surveillance at airports and railway stations has been stepped up to intercept unaccounted cash that could influence the polls.
The department had detected ‘black money’ worth more than Rs 5,000 crore from Assam and other parts of the Northeast in the last nine years.
The Air Intelligence Unit at Guwahati airport is on alert, while intelligence teams at railway hubs are monitoring passenger movement and parcels.
A 24/7 control room in Guwahati has also been activated, enabling citizens to confidentially report suspicious activity, the source said.
“This year, transport corridors are under sharper watch. Flights from Delhi, Kolkata and Mumbai, as well as trains entering from neighbouring states, are being closely monitored,” the source added.