The Enforcement Directorate (ED) on Wednesday (October 7, 2026) carried out searches at multiple locations in connection with its probe into alleged financial fraud and money laundering involving three co-operative banks in Ernakulam, Thrissur and Malappuram in Keralam.

The searches were held as part of the investigation into alleged irregularities at Angamaly Urban Service Co-operative Bank in Ernakulam, Thennala Service Co-operative Bank in Malappuram and Kuttanellur Service Co-operative Bank in Thrissur.

Three units of the ED’s zonal office in Kochi were involved in the searches at various locations in connection with the probe into the alleged financial irregularities at the Urban Service Co-operative Bank in Angamaly. The alleged forgery and resultant cheating, amounting to about ₹55 crore, took place since July 7, 2002.

Loans were allegedly sanctioned on forged applications as well as applications submitted without the requisite documents, even in the names of non-members. The Kerala Police had registered cases against 14 governing committee members and six employees, both past and present, as part of the probe.

The alleged fraud reported at the Thennala Service Co-operative Bank was estimated at around ₹10 crore and reportedly involved fraudulent loan sanctions and fund misappropriation. The searches were carried out at nearly seven premises in Kozhikode and Malappuram linked to the case.

The ED officials also conducted searches at around six premises connected to the fraud reported at the Kuttanellur Service Co-operative Bank in Thrissur. The alleged fraud, amounting to about ₹27 crore, involved cheating by office-bearers of the bank through the transfer of mortgaged properties without the consent of the owners and depositors.