Hyderabad: An illegal hawala money transfer racket operating from Koti area here was today busted by police who apprehended four people and seized Rs 72.73 lakh from them.

Acting on information, police apprehended Lal Chand Pandia, hawala organiser and two collection agents and a businessman and seized the cash from them.

During questioning, they confessed to indulging in hawala money transfer business and supplying money on a commission basis to Delhi and other places, a police release said.

The four people and the seized material were handed over to the Income Tax Department for further investigation, the release added.