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...
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...
Commonly used TBML Techniques
TBML techniques are becoming popular as an alternative remittance system that allows to move the proceeds of illegal activities disguised as legitimate trade. Trade provides ample opportunities to earn money over...
Locker Business involved in Money Laundering
Though, not a popular method, locker businesses could be a great tool to launder cash. It could be one of the mechanism of Placing the funds in the banking system. In...
India on US Money Laundering List
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...
Value of certification in Anti Money Laundering
“Is it worth my time and money to get CAME?”
The short answer to your question is yes, CAME certification can be of great value to you if you are trying to...
Duty Drawback and Laundering
The duty drawback scheme has been designed to refund to exporters duties levied by Customs & Central Excise or tariffs paid by them on both imported and locally produced materials or...
Money Laundering in Antrix-Devas deal
The deal between Antrix and Devas was fixed in principle in January, 2005, for lease of S-Band transponders.
However, the then Executive Director of Antrix signed it on behalf of Antrix six...
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...
Money Laundering through Hospitals
Today, even an apple a day cannot keep the Doctor away. Everyone of us, time and again had the need to pay visit to a Doctor. Generously (?) shelling out bucks...
