2 min readNew DelhiApr 24, 2026 05:59 PM IST
The Enforcement Directorate (ED) has uncovered a suspected cross-border financial network involving the use of foreign bank debit cards to withdraw large sums of cash across India, allegedly to fund activities of an unregistered organisation.
The discovery was made following ED raids at six locations across multiple states on April 18 and 19 as part of a probe into the activities linked to The Timothy Initiative (TTI) in India. TTI is not registered under the Foreign Contribution (Regulation) Act (FCRA), which governs the inflow of foreign funds into the country.
According to the ED, its investigation found that debit cards issued by Truist Bank in the United States were brought into India and used to withdraw cash repeatedly from ATMs in different states. “The withdrawn money was allegedly utilised to meet expenses related to TTI’s operations in India, bypassing established regulatory channels,” an ED spokesperson said in a statement on Friday.
The agency intercepted one individual, identified as Micah Mark, at Bengaluru International Airport based on a lookout circular. “He was found carrying 24 foreign debit cards. Subsequent investigation revealed that these cards were part of a larger network involving multiple individuals across the country,” the spokesperson added.
“Probe has revealed that suspicious withdrawals were concentrated in Left Wing Extremism (LWE)-affected regions, including Dhamtari and Bastar in Chhattisgarh. Around Rs 6.5 crore has been withdrawn from these areas over the past few years. The pattern of withdrawals suggested a coordinated and organised effort,” the spokesperson further said.
The agency has also flagged concerns about the emergence of a parallel cash-based system in sensitive regions, warning that such mechanisms could potentially facilitate unlawful activities and undermine financial oversight.
“Further findings indicate that an online billing and accounting platform, allegedly controlled by entities based outside India, was used to track the withdrawals and utilisation of funds. Around Rs 95 crore was channelled into India between November 2025 and April 2026 through this method,” the spokesperson said.
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The ED official added that search operations led to the seizure of 25 foreign debit cards, Rs 40 lakh in cash, and several digital devices and documents considered incriminating.
