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money laundering News
Explainer: Europe's money laundering scandal
Thu, Apr 04, 2019
The scandal spread to the Estonian branch of Danske Bank, Denmark`s largest lender, which is now facing probes in several countries for handling 200 billion euros ($224 billion) in suspicious transactions of Russian money between 2007 and 2015.
CBDT asks I-T Dept to probe about 3 lakh de-registered firms for money laundering
Fri, Mar 29, 2019
"In cases of detection of unusual transactions and beneficiaries thereof, appropriate action may be taken as per provisions of the I-T Act after seeking restoration of the struck off company by filing an appeal before the National Company Law Tribunal (NCLT)," the CBDT said.
Robert Vadra appears before ED for third time
Sat, Feb 09, 2019
Robert Vadra, Congress chief Rahul Gandhi's brother-in-law, on Saturday appeared before the Enforcement Directorate (ED) for the third time in connection with a probe into allegations of money laundering in purchase of assets abroad.
Japan to urge G20 for steps to prevent cryptocurrency use for money laundering
Tue, Mar 13, 2018
Cryptocurrencies: The Paris-based Financial Action Task Force (FATF), a 37-nation group set up by the G7 industrial powers to fight illicit finance, will report to the G20 its findings on ways to keep cryptocurrencies from being used for money laundering.
PNB fraud a failure of internal controls, says RBI
Sat, Feb 17, 2018
Although the case has once again drawn the attention to large frauds in banking system, the RBI has been cautioning about it for some time
Enforcement Directorate raids in Nirav Modi-PNB Rs 280 crore fraud PMLA case
Thu, Feb 15, 2018
The Enforcement Directorate today conducted multiple searches in connection with a Rs 280 crore money laundering case against billionaire jewellery designer Nirav Modi and others following a complaint by Punjab National Bank.
Vijay Mallya extradition trial's next hearing date remains uncertain
Mon, Jan 22, 2018
The next submissions hearing in the extradition trial of Vijay Mallya over alleged fraud and money laundering amounting to Rs 9,000 crores remains uncertain as the case was today not discussed in a London court due to differences among lawyers on a mutually convenient date.
Money laundering case: ED attaches Rs 472 crore assets
Mon, Jan 08, 2018
The ED had registered a criminal case against the firm in 2015 based on a CBI FIR against the group, its directors and officials.
Transneft says its computers were used for mining cryptocurrency
Fri, Dec 15, 2017
"Incidents where the company`s hardware was used to manufacture crypto-currency have been found. It could have a negative impact on the productivity of our processing capacity," Transneft Vice-president Vladimir Rushailo told a company meeting. He did not elaborate.
Reserve Bank of India backpedals on Aadhaar; says its mandatory to link with bank accounts
Sat, Oct 21, 2017
RBI has now clarified that linking bank accounts with Aadhaar is mandatory and banks have to implement its linkage 'without further instructions.'
Vijay Mallya arrested in London in money laundering case; secures bail immediately
Tue, Oct 03, 2017
Liquor baron Vijay Mallya has been arrested in London for the second time this year in a money laundering case, a Doordarshan report claimed on Tuesday. However, he secured a bail immediately after. In April 2017, Mallya was arrested as per India’s expedition request.
India aims at shell companies to get rid of black money
Wed, Sep 06, 2017
A Shell company is an entity without any active business operations or significant assets. In India it has presently stolen limelight as it has become a cause of concern in regards to black money.
Fake currency reports double; leads to seizure of Rs 562 crore in 2015-16
Sun, Jul 30, 2017
The report of the Financial Intelligence Unit (FIU), the premier technical snoop wing under the Finance Ministry, said the financial year 2015-16 saw a "record increase" in the detection of such instances.
Singapore sentences ex-BSI banker to more jail time in 1MDB linked case
Thu, Jul 13, 2017
A Singapore court jailed a former wealth manager of Swiss bank BSI for 4-1/2 years on Wednesday for money laundering and cheating in a case linked to investigations into the siphoning off of billions of dollars from Malaysian sovereign fund 1MDB.
Snapdeal files police case against former heads of local logistics firm
Sun, Jun 25, 2017
Indian online retailer Snapdeal has filed a police complaint against some former directors and former management of a local logistics company, in which it owns a stake, accusing them of defrauding the company of 3.57 billion rupees ($55.37 million), a police report showed.
Credit-Co-oprative societies behind money laundering in Mumbai?
Wed, May 24, 2017
Credit-Co-oprative societies behind money laundering in Mumbai?. Watch the full segment for more details.
Sebi relaxes restrictions on 40 entities
Sun, Oct 23, 2016
Market regulator Sebi has eased curbs on 40 entities against whom it had taken action in two different cases of alleged misuse of stock market platform for tax evasion and suspected money-laundering.
SC asks banks to respond to Mallya's plea against contempt notice
Mon, Aug 29, 2016
The Supreme Court on Monday asked the consortium of banks led by the State Bank of India to respond to beleaguered liquor baron Vijay Mallya`s plea seeking the recall of the notice of contempt for allegedly not making full disclosure of all the assets owned by him and his family as directed by th
Rules say we need Mallya to appear before Supreme Court: Attorney General
Mon, Aug 29, 2016
The Supreme Court trial for hearing the banks’ plea against Vijay Mallya concluded with the attorney general, Mukul Rohtagi, appearing for the banks, saying that the businessman has breached court order by not appearing in front of it.
Apex court to hear banks’ plea against Vijay Mallya today
Mon, Aug 29, 2016
The Supreme Court will hear Kingfisher Airlines' 17-lender banks’ plea against Vijay Mallya on Monday, in the on-going proceedings of the beleaguered liquor baron.