Featured India

The United States is Now Meth Country

By Steven Dudley and Parker Asmann, InSight Crime, 27 April 2021 InSight Crime — Long considered a drug mostly used in poorer backwaters, methamphetamine availability and use has exploded in the United States in the last few years in places where it had never been consumed… Read More

India’s Adani Faces Scrutiny for Port Deal in Myanmar

A major index provider and some investors are distancing themselves from the marine-ports operator controlled by Indian conglomerate Adani Group over past business transactions with a company linked to the military regime in Myanmar. Financial data firm S&P Global Inc. last week… Read More

‘Aphrodisiac’ of the ocean: how sea cucumbers became gold for organised crime

It’s after sunset in Jaffna when Anthony Vigrado dives into the waters of Palk Bay, scanning the seafloor to collect what seems to be prized treasure. What he comes back with are sea cucumbers – long, leathery-skinned creatures that are increasingly valuable and the source of his income for the… Read More
6th April 2021
Japan’s largest bank will rebuild its 40-year-old headquarters in Tokyo’s financial district as the lender prepares for a post-Covid world that will also see some compliance roles shift to India. The new building will “significantly reduce” facility expenses for the financial group by bringing together about 19,000 workers who are… Read More
6th April 2021
An Indian court on Tuesday dealt a blow to China’s ByteDance by dismissing its plea to unblock its bank accounts which have been frozen by federal authorities investigating alleged tax evasion. An Indian tax intelligence agency in mid-March ordered HSBC and Citibank in Mumbai to freeze accounts of ByteDance India… Read More
1st April 2021
An Indian court on Wednesday granted no relief to China’s ByteDance, owner of the TikTok video app, in a case where the company challenged the local tax authority’s decision to block its Indian bank accounts, dealing a blow to its operations. Indian authorities in mid-March blocked ByteDance’s bank accounts for… Read More
31st March 2021
The ongoing tussle between the Centre and Kerala government over the gold smuggling case deepened further after the latter filed a fresh case against the ED. This is the third case filed against the central agency. The latest case is based on the statement of one of the accused in… Read More
31st March 2021
Shadow banking in India has gained increasing popularity over the last 30 years or so, following the financial deregulation of the early 1990s that brought the growth of non-banking financial companies (NBFCs) across the country. During this period, NBFCs have consistently managed to gain market share, often at the expense… Read More
8th March 2021
About 700 entities which had taken the assistance of a ‘hawala’ racket allegedly operated by Naresh Jain and his associates are under the Enforcement Directorate’s scanner for suspected laundering of undisclosed income running into thousands of crores. The entities, most of which are into various business activities, allegedly paid commissions… Read More
3rd March 2021
In one of the biggest money laundering cases registered by it so far, the Enforcement Directorate has started attachment of assets of people associated with main accused Naresh Jain, a hawala dealer. Jain and his associates earned Rs 565 crore just through… Read More
2nd March 2021
A series of controversial deals that took place before Wirecard AG purchased an Indian business appeared to be an “evolving international fraud,” a panel of London judges said. The transactions in 2015 are being scrutinized in courts in London and Chennai, with the former minority holders of Hermes I-Tickets Private… Read More
26th February 2021
A London court ruled on Thursday that billionaire Indian diamond magnate Nirav Modi could be extradited to his home country to face charges of fraud, money laundering and interfering with an investigation. Modi, whose diamonds have been worn by the likes of Kate Winslet and Dakota Johnson, was arrested in… Read More
23rd February 2021
With its plenary beginning on Monday (today), Pakistan may remain in the grey list of the Financial Action Task Force (FATF) though the authorities assert that the country qualifies to be moved out on merit. Background discussions with key officials and foreign diplomats suggest that the jury is divided —… Read More