[ad_1] The Enforcement Directorate (ED) has arrested two Chinese nationals accused of money laundering through a Chinese mobile application, according to a Local18 report. The development comes amidst a wider crackdown on such illegal activities by the agency. The arrested individuals, Xiao Ya Mao and Wu Yuanlun, were operating a loan app named ‘MyCash App,’ […]
ED attaches properties worth ₹23.54 crore in Andhra Pradesh skill development scam – CNBC TV18
[ad_1] The Enforcement Directorate (ED) has seized movable and immovable assets valued at ₹23.54 crore linked to the alleged misuse of funds in the Andhra Pradesh State Skill Development Corporation (APSSDC) Siemens project. This action was taken by the ED’s Hyderabad Zonal Office under the Prevention of Money Laundering Act (PMLA), 2002, reported ANI. The […]
FATF India Mutual Evaluation Report | Why this marks the successful completion of a long journey – CNBC TV18
[ad_1] There is considerable anticipation surrounding the upcoming publication of India’s Mutual Evaluation Report (MER) by the Financial Action Task Force (FATF). It has been a long journey for India-from being accorded observer status in FATF in 2006 to becoming a full-fledged member in 2010 to now being placed in the ‘regular follow up’ category by […]
Indian banks enhance monitoring to combat mule accounts, says RBI Governor – CNBC TV18
[ad_1] Most Indian banks have systems in place to monitor the behaviour of mule accounts, said Reserve Bank of India Governor Shaktikanta Das during a press conference on Thursday. A mule account is a bank account that is used for illegal activities like money laundering, tax evasion, fraudulent transactions, etc. These types of accounts usually […]