The four passengers, who arrived in Mumbai from Hong Kong, were attempting to walk through the green channel at the Mumbai International Airport without declaring their goods.
The custom officials, who were alerted about the four passengers, later detained them and recovered the memory card after a thorough search. The four will be taken to the Mumbai sessions court on Monday, where the police would be seeking their custody for further interrogation.
The investigating agencies suspect the four persons of working for some organization, which deals in smuggling and are attempting to find out the mastermind behind the racket.
FERA Act, 1973, is an act to consolidate and amend the law regulating certain payments, dealings in foreign exchange and securities, transactions indirectly affecting foreign exchange and the import and export of currency, for the conservation of the foreign exchange resources of the country and the proper utilisation thereof in the interests of the economic development of the country.