Clearly, rich Indians have little confidence in India. Perhaps we are also chronically dishonest.
The latest fraud is a failure of management supervision and accountability, as no bad debt was generated and no cash was involved
It's best to avoid deals that sound too good to be true.
Dubai Islamic Bank has installed an integrated anti-money laundering and compliance solution in an effort to curb financial crime. The solution developed by Norkom Technologies, will be implemented across the bank's operations in the UAE and Pakistan.
The Enforcement Directorate (ED) on Tuesday arrested the former CFO and internal auditor of the Cox and Kings Group in connection with its money laundering probe in the Yes Bank alleged loan default case. The agency said ex-chief financial officer Anil Khandelwal and internal auditor Naresh Jain were arrested under the provision of the Prevention of Money Laundering Act
Tax wing scanning cash deposits between Rs 5-10 lakh
Assuming that demonetisation had not happened, the value of notes in circulation this year could have increased to Rs 19.3 lakh crore. But what we have, instead, by the end of August is a 20 per cent lower figure for currency notes in circulation, says A K Bhattacharya.
Online purchases with a debit card are much safer because transactions take place on the bank's website rather than the merchant's.
While the virus out there meddling big-time with our lives, danger is lurking in our email boxes too.
Wipro, HCL in race for Sebi's fraud detection system upgrade,
'However, this time it looks like that is not working.'
The 'mystery' of the education business sale by Cox & Kings is part of an Enforcement Directorate investigation, which is also examining the siphoning-off of funds to the tune of Rs 21,000 crore to dozens of so-called related-parties, highlighted by the forensic auditor.
"Post demonetisation, during November 9, 2016, to January 10, 2017, more than 1,100 searches and surveys were conducted and more than 5,100 notices were issued by the income tax department for verification of suspicious high-value cash deposits," Finance Minister Arun Jaitley said in a written reply in the Lok Sabha on Friday.
Operator syndicate could be behind stock hammering, suspects regulator.
The probe agency found irregularities in loans amounting Rs 3,642 crore sanctioned by Yes Bank to the travel firm.
The Coast Guard has increased surveillance along the Gujarat coast, after a Pakistani boat blew itself off Porbandar on New Year's Eve.
ED failed to obtain evidence with regard to financial links about the purchase of an island in Scotland.
Indian Coast Guard on Saturday said suspicions were raised about the identity of crew of the explosives-laden boat intercepted by them, as they did not resemble fishermen from their dressing style and carried no nets.
In all, 292 allegedly fraudulent LoUs and 224 foreign letters of credit were generated and money sanctioned to Nirav Modi's companies since 2011
The relative ranking of castes can vary across regions and localities and depends on a number of factors including control over land, wealth, and political power. Castes have often tried to 'upgrade' themselves (a process sociologists refer to as Sanskritization), and sometimes get 'downgraded'. A revealing excerpt from Upinder Singh's Ancient India: Culture Of Contradictions.
Could the gains in terms of widening the tax net, increased digital transactions and detection of higher fake currency notes have been achieved without the huge disruption and output loss that demonetisation caused to the Indian economy, asks A K Bhattacharya.
The department had sent SMSes and emails to 18 lakh people who made suspicious deposits of over Rs 500,000 during the 50-day demonetisation period.
Over 100 tax sleuths along with police officials have been roped in for the survey operations
With cyber criminals becoming savvier by the day, learning how to safeguard yourself is imperative.
According to a senior official, Sebi has written to various stakeholders under its jurisdiction with regard to the requirement of FIs to report under CRS.
Don't reveal any information to strangers.
The agency said it searched a Mumbai-based operator who was running 700 shell companies with 20 dummy directors and had "converted Rs 46.7 crore for Chaggan Bhujbal", the jailed ex-Maharashtra deputy chief minister.
Sahara says it got suspicious on February 1 about the purported letter showing Mirach having blocked sufficient funds with Bank of America.
The sluggish legal system in India makes it extremely difficult for law-enforcing agencies in the ministry of finance to punish violations of foreign exchange laws. Unfortunately, it is not just FEMA. The Prevention of Money Laundering Act too has significant infirmities, say Paranjoy Guha Thakurta and Pranati Mehra.
India's new tax policy which makes it mandatory to disclose foreign is not so common in developed countries.
Facing black money investigations in India and several other countries, global banking giant HSBC on Monday said it is also being probed in the US for hiring candidates related to government officials in Asia Pacific.
This is the new addition to the tax data, which had identified over 600,000 people for scrutiny over huge inconsistencies in the cash deposits
Delhi Election Commission on Friday directed all mobile service providers to stop "political" bulk SMS services 48 hours before the assembly election to ensure that parties do not influence voters during this period.
Coast Guard Deputy Director General K R Nautiyal alleged that the facts presented in the media were not factual
As many as 17 locations in Delhi, Mumbai, Hyderabad, Jaipur and Surat were raided by the ED.
Protect yourself and minimise such frauds by following these simple rules
'The Modi government's greatest blunder is to exploit sensitive external relations in its domestic politics,' says Shekhar Gupta.
A government report revealed that fake companies floated with fake addresses, issued fake GST invoices and generated fake e-way bills, with fake vehicle registration details without supplying any goods causing huge loss to the exchequer.
FIFA president Sepp Blatter and its secretary general Jerome Valcke have both hired high-powered US lawyers to represent them as a corruption probe roils soccer's global governing body.
A senior life insurance official point out there have also been cases involving former insurance agents.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances