Bitcoin is heavily used in Crypto Currency Laundering
CryptoCurrency laundering is an emerging challenge. But Indiaforensic recognized this in the year 2013. Indiaforensic published its report on virtual currencies. Liberty Reserve was the hot digital currency in...
Money laundering through Indian NGOs
Indian NGOs and the risk of Laundering
Voluntary organizations receiving more than Rs. 11,500 crore ($1.9 billion) in foreign funds annually, the Home Ministry has warned that the NGOs could be vulnerable...
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...
Wire Stripping in Anti Money Laundering Parlance
Money Launderers across the world are now using internet banking and wire transfers for completing their shady financial transactions. They also use wire transfers to disguise the origin of...
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...
Statistics on Heightened Risk Entities
Riskpro Technology, which compiles the data on heightened risk entities recently published their factsheet. There are more than 175000 individuals flagged as Heightened Risk Individual in the specially designed database called...
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...
End capital gains to curb money laundering
Long term capital gains are paid when an Individuals makes profit on sale of long term asset. The tax rates for long term capital gains are lower than the normal tax...
Mutual Evaluation Report: 5 Steps of Process
Imagine you're in school, and you get a report card that shows how well you're doing in different subjects. Well, countries have something similar called...
Unveiling the Shield: Ensuring Security through Customer Due Diligence
In an era where financial transactions occur at lightning speed across borders, it is imperative to maintain a robust system that protects against money laundering, terrorist financing, and other...
