City police today claimed to have busted a hawala racket with the arrest of two persons and seizure of over Rs 1.25 crore cash.
Central zone task force team raided a house at Abids, a busy commercial area, and arrested Ankith Jain and Uma Kanth who ran an illegal money transfer business, said P Rameshaiah, Additional Deputy Commissioner of Police.
Besides the cash, police also seized currency counting machine, fake note detector and slips of hawala transaction, he said.
