Some of the world's biggest banks including HSBC, JPMorgan Chase and Standard Chartered moved trillions of dollars identified as being potentially tied to money laundering or other crimes despite raising concerns about those transactions in filings with US regulators, reports South China Morning Post.
Banks say they themselves red-flagged the transactions to RBI. It must be noted that these transactions are not outright evidence of fraud or proof of nefarious activities.
The US on Friday slapped sanctions against two Indians, including a brother of underworld don Dawood Ibrahim, and a Pakistan-based paper company for their ties with D Company.
This is the joint statement issued by the ministry of external affairs on the visit of US President Barack Obama to India.
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