Dealers with turnover of Rs 2 crore and above covered; industry says threshold too low
The many ways in which the fast-expanding bank got it wrong on money laundering.
The BJP has criticized West Bengal Chief Minister Mamata Banerjee following Supreme Court observations regarding obstructions during ED raids at I-PAC premises, alleging abuse of power and shielding of those accused of corruption.
The Enforcement Directorate had filed the money laundering case after taking cognisance of a Central Bureau of Investigation FIR and chargesheet.
Committed to the full implementation of international standards to combat money laundering and terror financing, India on Tuesday said it was making suitable amendments to converge the country's existing laws with the recommendations of the global Financial Action Task Force.
The ED's move comes after registration of a new case and raids conducted by it on February 15 in Mumbai in connection with the operations of the underworld, linked alleged illegal property deals and hawala transactions.
The syndicate used "stooge" bank accounts and shell companies to transfer the largest amount linked to a single case recorded in the city, the Customs and Excise Department of Hong Kong said.
The ED had on December 23 filed its final report against Bharti and her husband Shailesh Kumar through advocate Nitesh Rana.
India, which has witnessed numerous terror attacks and still remains a potential target for such strikes, faces significant money laundering and terrorist financing risk, the IMF has warned.
The Enforcement Directorate (ED) has attached assets worth Rs 11.14 crore of former cricketers Suresh Raina and Shikhar Dhawan as part of a money-laundering probe linked to the operations of an alleged illegal betting site, official sources said on Thursday.
Suspicions have swirled for years that many of Sahara's millions of investors are fictitious names
The Lahore special court (central-I) declared Suleman and Tahir Naqvi proclaimed offenders after they failed to appear despite being summoned, the Dawn newspaper reported.
The money-laundering case was filed by the ED after taking cognisance of a CBI FIR against the accused, whom the latter agency had booked for alleged violations of the Foreign Contribution (Regulation) Act (FCRA), 2010 and under section 120B (criminal conspiracy) of the Indian Penal Code.
The Enforcement Directorate (ED) has approached the Calcutta High Court, seeking a CBI investigation into the role of West Bengal Chief Minister Mamata Banerjee, senior police officials and others for allegedly obstructing its raids in Kolkata against political consultancy firm I-PAC and its director in connection with an alleged coal scam.
The Delhi high court on Monday refused to quash an Enforcement Directorate money laundering case against media baron Raghav Bahl, saying the plea was "premature".
In a bid to check money laundering, the government on Thursday allowed Financial Intelligence Unit
The SC said it will not interfere with the Bombay HC order but Malik can avail the remedy available under the law.
The International Monetary Fund will launch a donor-supported fund to combat money laundering and terror fund, a growing menace in the financial world.
Inter-governmental body FATF has come out with elaborate suggestions on ways to prevent misuse of corporate vehicles and on having a risk-based approach for the banking sector to help curb money laundering and terror funding activities.
Delhi Police has filed an FIR against Congress leaders Sonia Gandhi and Rahul Gandhi and others in the National Herald case based on a complaint by the ED, alleging money laundering and abuse of position for personal gains.
The Delhi High Court has held that profits from cricket betting would constitute "proceeds of crime" under the anti-money laundering law.
A chargesheet filed by Andhra Pradesh police alleges former Chief Minister YS Jagan Mohan Reddy chaired a meeting related to a new liquor policy under which outlets would be run by a government entity. The chargesheet details alleged kickbacks and money laundering.
The arrest, the first of a sitting chief minister, came hours after the Delhi high court refused to grant protection to the AAP national convenor from any coercive action by the agency.
The ED will probe if money earned from the illicit narcotics trade was laundered to create movable and immovable assets by the accused. The investigation will run parallel to the NCB probe, the sources said.
A Swiss government agency has disclosed having come across suspicious money laundering activities related to cases of "organised crime" in India.
Touted as underworld's biggest money launderer Tanveer Jaffery, 65, funnelled crime lords' dirtycash through banks and his 'Remittance to Pakistan' money transfer firm, which let people send funds home to Pakistan through website R2PK.com, the Daily Mirror reported.
The State Bank of India has registered a significant victory as a court of appeal in the Belgian port city of Antwerp has dismissed a money laundering case against it.
Jet Airways founder Naresh Goyal and few others have been booked by the Enforcement Directorate in a money laundering case even as the agency is conducting searches at his premises, officials said on Thursday. They said a criminal case against the former chairman of the airlines has been filed under the Prevention of Money Laundering Act after taking cognisance of a recent Mumbai Police FIR filed against him.
Chaudhari was released from Arthur Road Jail in central Mumbai after completion of formalities, including furnishing of a cash bail of Rs 1 lakh, his lawyer Mohan Tekavde said.
The suspension is pending the bank's investigation into money laundering charges, sources in ICICI told PTI. The probe is expected to be completed in two weeks.
The Enforcement Directorate (ED) has filed a chargesheet in connection with alleged financial irregularities at the R G Kar Medical College and Hospital, naming former principal Sandip Ghosh and others as accused.
The ED is also probing alleged violations of foreign exchange rules by the company since 2006.
The ED summons have come close on the heels of filing of a chargesheet by the CBI against Singh, his wife and others for allegedly amassing assets worth around Rs 10 crore disproportionate to their known sources of income.
The five-day meeting, whose pre-plenary sessions began today, will provide a platform for high-level discussion and co-operation and would evaluate the progress by APG members in implementing the international standards to combat money laundering and the financing of terrorism, a statement said.
A case was registered against former Jharkhand chief minister Madhu Koda and three of his cabinet colleagues by the Enforcement Directorate on Friday for alleged money laundering, diversion of state funds and making huge investments abroad without legal sanction. The ED filed a Enforcement Case Information Report (equivalent to a FIR) before the Prevention of Money Laundering Act court in Ranchi against Koda, Kamlesh Singh, Bhanu Pratap Shahi and Bhandu Tirkey.
The Delhi high court on Wednesday dismissed a bail plea by Avantha Group promoter Gautam Thapar in a Rs 500-crore money laundering case lodged by the Enforcement Directorate (ED). Justice Manoj Kumar Ohri denied the relief to Thapar, who was arrested under the Prevention of Money Laundering Act (PMLA) on August 3, 2021, after the agency carried out raids against him and his linked businesses in Delhi and Mumbai. The detailed order of the high court is awaited.
The Enforcement Directorate (ED) has arrested the vice chairman and managing director of real estate group IREO, Lalit Goyal, in connection with a money laundering probe against him, officials said on Tuesday. The businessman has been taken into custody under the provisions of the Prevention of Money Laundering Act (PMLA) by the federal probe agency in Chandigarh and will be produced before a local court for seeking his remand, they said. Goyal was stopped by immigration authorities last Thursday at the Indira Gandhi International (IGI) airport in New Delhi on the basis of an ED look out circular against him.
The ED carried out searches against two former auditor firms of IL&FS -- BSR and Associates and Deloitte Haskins and Sells -- on Wednesday in connection with its money-laundering probe into alleged financial irregularities at the infrastructure development and finance company, official sources said. The premises linked to the two auditors in Mumbai were searched under the provisions of the Prevention of Money Laundering Act (PMLA), they added. The action came a week after the Supreme Court set aside a Bombay High Court verdict that quashed an SFIO probe against the two companies, both former auditors of IL&FS Financial Services, paving the way for action against them under the Companies Act and allowing the National Company Law Tribunal (NCLT) to take forward its enquiry against them.
The Enforcement Directorate (ED) has filed a chargesheet against real-money online gaming app WinZO and its promoters, alleging the company used bots and AI to manipulate game algorithms, leading to significant financial losses for users.
Vadra's anticipatory bail application is likely to be heard by the court on Saturday.
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