Search results
Results from the WOW.Com Content Network
Main page; Contents; Current events; Random article; About Wikipedia; Contact us
Placing 'dirty' money in a service company, where it is layered with legitimate income and then integrated into the flow of money, is a common form of money laundering. Money laundering is the process of illegally concealing the origin of money obtained from illicit activities (often known as dirty money) such as drug trafficking, underground ...
Diamond smuggling via South Africa is also a major criminal activity, and diamonds are sometimes used to disguise shipments of heroin. Finally, there is much money laundering in the country, mostly through the use of the traditional hawala system, although India criminalised money laundering in 2003. [44] [45]
India's federal financial crime agency on Friday raided several liquor companies and suppliers and distributors in a money laundering investigation that the party ruling the capital has criticised ...
India's Enforcement Directorate has begun attaching assets of the accused and is seeking to immediate confiscation under the Fugitive Economic Offenders Ordinance. [3] Nirav is on the Interpol's wanted list for criminal conspiracy , criminal breach of trust, cheating and dishonesty including delivery of property, corruption and money laundering ...
On 14 March 2013 Reserve Bank of India conducted an inquiry into possible violation of its KYC (Know Your Customer) and AML (anti-money laundering) guidelines by ICICI Bank, HDFC Bank and Axis Bank. [5] [6] [7] Following the enquiry, penalty of Rs 5 crore on Axis Bank, Rs 4.5 crore on HDFC Bank and Rs 1 crore on ICICI Bank was imposed by RBI. [8]
The registration is part of the Corporate Transparency Act, an anti-money laundering statue passed in 2021. Under the CTA, the owners and part-owners of an estimated 32.6 million small businesses ...
The Agency works to secure India's national and economic security by preventing the outright smuggling of contraband such as firearms, gold, narcotics, counterfeit Indian currency notes, antiques, wildlife and environmental products. Moreover, it also works to prevent the proliferation of black money, trade based money laundering and commercial ...