Expeditiously, the then Government had introduced exchange control which, after more than two centuries, brought to an end an era of unrestricted transfers and payments for international trade transactions and free capital convertibility. It was  4  1951. The Treasury Department of the Government was made in charge of the Exchange Control Office.
The systems of control are now more transparent than they would have been in the  BIS Review 33/2004  3  1989-1996 period and I think it is less likely that anything like what happened then could happen now and if it did it would be unlikely to go undetected.