The Enforcement Directorate (ED) on Wednesday, 4 November 2026, conducted simultaneous search operations at the residence and office of Kolkata-based businessman Shyamal Byapari in the city's suburban Kamalgazi area, as part of an ongoing money laundering investigation. The probe centres on an alleged hawala network reportedly used to launder proceeds from cyber fraud.

How the Operation Unfolded

According to the ED, search teams moved in at around 7 am, acting on a case registered in Guwahati. The agency carried out the raids at Byapari's residence, which falls under the Narendrapur police station limits, and at his office premises simultaneously. Investigators are gathering digital evidence, financial records, and other documents to trace the flow of funds and identify other individuals allegedly linked to the network.

What Investigators Allege

ED officials have alleged that illicit funds generated through cyber fraud were routed through a business network operating under the cover of legitimate rice trade activities. Substantial sums are suspected to have been laundered through hawala channels, with the accused allegedly involved in financial irregularities amounting to several crores of rupees, according to officials. The agency is examining multiple bank accounts suspected to be connected to these transactions. According to sources, these accounts could be frozen if evidence of illegal activities is established during the investigation.

The Guwahati-Bengal Connection

Central to the probe is the question of whether cyber fraud proceeds originating in Guwahati were funnelled through the Bengal-based business entity and subsequently circulated through hawala channels. The ED's investigation aims to establish the full trail of funds and determine who else may be involved in the alleged ring. The inter-state dimension of the case — linking Assam and West Bengal — adds complexity to the financial trail investigators are attempting to reconstruct.

Pattern of Intensifying ED Action in Bengal

The latest searches come weeks after the ED conducted operations at multiple locations in Kolkata in connection with an alleged investment fraud case. The agency has notably intensified its scrutiny of financial crimes and money laundering networks operating in West Bengal in recent months. Critics have raised questions about the pace and scope of these raids, while the ED maintains it is following financial evidence wherever it leads. This is not an isolated action but part of a broader pattern of enforcement activity the agency has pursued in the state.

What Happens Next

The ED is expected to analyse the seized documents and digital records before deciding on further arrests or asset attachments. Bank accounts linked to the alleged transactions remain under scrutiny and could be frozen pending findings. The case, which now spans at least two states, is likely to draw wider attention as investigators attempt to establish the full extent of the alleged hawala-cyber fraud network.