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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.

adverse media

Adverse Media information on High Risk Customers

Adverse media screening, also known as negative news screening, is defined as unfavorable information found in news sources. There are two types of news sources viz. ‘traditional’ news outlets and unstructured...

Trade Based Money Laundering in India

Money Laundering scandal in the Bank of Baroda shocked the banking system in India. Trade based money laundering technique was used in which pecuniary gains were made through illegal receipt of...

SIT recommendations to curb laundering

The Supreme Court-appointed SIT on black money has come out with a slew of recommendations to curb money laundering, including misuse of exemption on long-term capital gains tax, Participatory Notes and...

Amendments in Benami Transactions Act

Benami Transactions Act of 1988 was amended in 2015. These amendments are predominately anti money laundering measures and its purpose is to seize benami property and prosecute the Benamidars who indulge...

Money Laundering through Microfinance Companies

A builder has surplus cash on hand received through illegitimate sources which he decides to invest in order to camouflage the origin of this unlawful money. He gives the cash to...

Fighting the funding of fighters

Introduction This article is divided into two parts.Here is the first part of the article which is named as "Fighting the funding of fighters" Part - I The much spoken and stalwart terror...

Dhanlaxmi Bank fined for AML non compliance

The Reserve Bank of India has imposed a monetary penalty of Rs 10 million on Dhanlaxmi Bank Ltd for violation of its instructions, among other things, on KYC norms and AML...
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Tool for identification of Heightened Risk Entities in India

Biznexxus, which compiles the data of the heightened risk entities and individuals in India has partnered with Indiaforensic to host the corporate intelligence report on the Indiaforensic portal. Biznexxus is an...

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...

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...

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