31st August 2020
The Enforcement Directorate has frozen Rs 46.96 crore in four bank accounts after raiding 15 locations across Delhi, Gurgaon, Mumbai and Pune after some companies were allegedly found running illegal online betting apps linked to China. The chartered accountants of these firms were also raided, the ED said in a… Read More
28th August 2020
Banks and financial institutions across South Asia need to redesign their processes to deal with cases of money laundering even as they are facing increased challenges in meeting heightened regulatory expectations, consultancy firm Deloitte said in its latest South Asia Anti-Money Laundering Preparedness Survey. The survey will be… Read More
27th August 2020
US authorities have charged three suspects involved in a large-scale tech support scam operation after FBI agents arrested one of their co-conspirators and turned him into an informant. Evidence provided by the informant along with court documents filed in the case provide an in-depth glimpse at the techniques and inner… Read More
26th August 2020
The Interpol has put out a Red Corner Notice, or a global arrest, warrant against Ami Modi, the wife of fraud-accused diamond merchant Nirav Modi. The notice has been issued in connection with money laundering cases registered against her in India. Ami Modi was last seen in the United States… Read More
24th August 2020
After the recent arrest of a Chinese businessman by the Income Tax authorities for money laundering, the Himachal Pradesh Police said it is also conducting investigations as “possible links” have emerged in the State. The businessman at the centre of the scam, identified as Charlie Peng, 43, alias Luo… Read More
19th August 2020
Indian taxpayers appear a step closer to reaping millions of dollars their fellow citizens have stashed illicitly in secrecy jurisdictions, following a recent landmark ruling against the elderly beneficiary of an undeclared Swiss bank account. Based on her declared taxable income of less than $4,000 in 2006, the powerful… Read More
18th August 2020
Mumbai: The Enforcement Directorate has told the Delhi High court that Sergio Cabral, the Brazilian politician who was jailed for corruption, had created dozens of shell companies in India and received $13.24 million in those accounts. The former Rio de Janeiro governor was arrested in November… Read More
13th August 2020
Indian tax authorities raided the premises of a few Chinese entities and their associates for money laundering, according to an official statement late on Tuesday, adding to New Delhi’s growing discomfort with Beijing after a border clash in June. Since the clash, Prime Minister Narendra Modi’s government has taken steps… Read More
30th July 2020
The Enforcement Directorate has filed a money laundering case against on run defence consultant Sanjay Bhandari to probe kickbacks worth USD 4.99 million allegedly received by him from South Korean major Samsung Engineering Co Ltd (SECL) in 2009, officials said on Monday. Bhandari’s firm was paid by SECL, in violation… Read More
29th July 2020
As consumers increasingly turn to online shopping for essential and non-essential goods while at home, fraudsters have adapted their technique to use more sophisticated tactics against consumers, banks and merchants. The situation is tenuous. A recent study from Forter shows fraud attacks increased by 19 percent, globally, from 2018 to… Read More