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Money Laundering

Indian Updates for the aspiring students, Certified Anti Moneylaundering Experts (CAME) and Certified TBML Experts on the Money Laundering Rules, Regulations, Enforcements and Transactions.

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Certified Anti Money Laundering Expert Goes Global

Certified Anti Money Laundering Expert program offered by Indiaforensic Center of Studies. The program was initially designed for the Indian compliance professionals. In the year 2015 the program was revisited and...

Defining Heightened Risk Entities

Risk Assessment procedures of the banks require them to identify and classify the customer. Classification of High Risk Customers is one of the major challenges that every financial institution face. In simple...

Penalty on Airtel Payments Bank for violation of KYC Norms

Based on the complaints and adverse media reports alleging that the Airtel Payments bank had opened customer accounts without a clear/specific consent of the customers, a supervisory visit to the bank...

KYC Violation by Indian Overseas Bank

Reserve Bank of India has imposed a penalty of ₹2 crore on Indian Overseas Bank (IOB) for violating Know Your Customer (KYC) norms. The Reserve Bank of India in its press release...

Syndicate Bank fined for violation of KYC Norms

A scrutiny was conducted by RBI of certain branches of the Syndicate bank in the aftermath of a fraud reported in these branches. A monetary penalty of ₹ 5 crores on...

Identifying the Ultimate Beneficial Owners

In the face of terrorist financing, drug trafficking and other criminal activities, money laundering is becoming a growing concern for the financial institutions across the world. These activities are...

Conceptual Development of Money Laundering

Introduction Money laundering is an inevitable extension of organized crime and an essential aspect of any profit –generating criminal activity. Broadly stated the term money-laundering means any process or activity connected...
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Beyond 331 Names – Stock Market Money Laundering Techniques

Securities Exchange Board of India announced the names of 331 entities which were referred to the Ministry of the Corporate Affairs by the Indian IRS during the investigations related to the...

Textile firms in Money Laundering

The Directorate of Revenue Intelligence (DRI) is learnt to have unearthed a fraud involving at least half a dozen textile exporters who allegedly laundered at least Rs 200 crore in the...

How GST is helping Money Laundering Activities

Just few days back the Goods and Services Tax (GST) was made live in hush. GST was termed as the most important reform of the Modi Government. But inadvertently this tax...

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