With I-T and ED targeting the ultra-rich, smugglers are reportedly importing luxury watches via airport mules to evade duties and conceal black money. Transactions use hawala and cryptocurrency; prices range between Rs 1 crore and Rs 15 crore per watch in India

Hyderabad: With the Income Tax and Enforcement Directorate authorities focusing on ultra-rich to check tax evasions and black money, the latter are seeking the help of organised smuggling syndicates to source luxury watches into the country.

Watches of internationally acclaimed brands such as Jacob & Co, Patek Philippe, Richard Mille, Audemars Piguet, Rolex and others are being smuggled into the country through the airports by carriers. The carriers, often referred to as mules, are paid a commission of Rs 50,000 and a flight tick

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