US State Department which focuses on financial crimes and money laundering issued the report “2015 International Narcotics Control Strategy Report” naming 65 countries throughout the world. This report highlights India as one of major countries involved in Money Laundering.
In 2013, India was the second largest exporter of ephedrine with 58,829 kg in global exports; the largest exporter of pseudoephedrine with 440,132 kg in global exports; and the largest importer of ephedrine with 82,283 kg in global imports. Criminal organizations continue to target India as a source of precursors for amphetamine-type stimulants, in particular ephedrine and pseudoephedrine. The diversion of ephedrine from legal production companies in India to illicit ephedrine brokers is a serious problem. The increased profitability from the manufacturing and distribution of methamphetamine has created a new trafficking element that did not exist 10 years ago – transforming India into a significant source of precursor chemicals. Global methamphetamine demand is creating new precursor chemical entrepreneurs in India who are retooling commercial chemical factories to produce illicit quantities of ephedrine and methamphetamine. Increasing global prices and demand for high quality methamphetamine may influence the increase in illicit precursor chemical manufacturing and trafficking networks operating in India.
India on US Money Laundering List
In 2014 Afghanistan, Antigua and Barbuda, Argentina, Australia, Austria, Bahamas, Belize, Bolivia, Brazil, British Virgin Islands, Burma, Cambodia, Canada, Cayman Islands, China, Colombia, Costa Rica, Curacao, Cyprus, Dominican Republic, France, Germany, Greece, Guatemala, Guernsey, Guinea-Bissau, Haiti, Hong Kong, India, Indonesia, Iran, Iraq, Isle of Man, Israel, Italy, Japan, Jersey, Kenya, Latvia, Lebanon, Liechtenstein, Luxembourg, Macau, Mexico, Netherlands, Nigeria, Pakistan, Panama, Paraguay, Philippines, Russia, Singapore, Somalia, Spain, St. Maarten, Switzerland, Taiwan, Thailand, Turkey, Ukraine, United Arab Emirates, United Kingdom, United States, Uruguay, Venezuela, West Bank and Gaza, and Zimbabwe are classified as the major countries involved in Money Laundering