ANTI MONEY LAUNDERING LAWS
Delhi L-G okays recommendation for probe against Satyendar Jain in CCTV graft case
Delhi L-G approves probe against former minister Satyendar Jain for alleged corruption in CCTV project. Jain, already in jail for money laundering, faces new charges. AAP yet to respond to the accusations. Investigation to be carried out by Anti-Corruption Branch.
ED files money laundering case to probe STP 'scam' in Delhi Jal Board; conducts searches
The Enforcement Directorate conducted raids across Delhi, Ahmedabad, Mumbai, and Hyderabad, seizing Rs 41 lakh in cash along with incriminating documents and digital devices. These searches are part of a money laundering investigation linked to alleged corruption in the augmentation of Sewage Treatment Plants (STPs) by the Delhi Jal Board (DJB). The investigation, stemming from a Delhi government Anti-Corruption Branch FIR against Euroteck Environmental Pvt Ltd. and others, focuses on irregularities in the awarding of tenders worth Rs 1,943 crore for 10 STPs.
Menace of 'money mules' and how not to become one
Mule accounts are bank accounts that are used to launder proceeds of crime by fraudsters. In an age when there are strict laws on holding or using large amounts of cash, transactions in the banking system cannot be avoided. At the same time, criminals cannot use bank accounts because KYC norms will enable authorities to link the money to the activity through which they receive it.
PNB scam: Court suspends non-bailable warrant against top executive of Gitanjali Group
A special anti-money laundering court suspended the non-bailable warrant against Sunil Varma, former Gitanjali Group executive linked to the PNB scam, allowing him to return to India for court appearance. Varma, accused alongside Choksi in the alleged bank fraud, faced warrants in money laundering and CBI cases. Bombay HC cancelled CBI warrant earlier, facilitating his return. Enforcement Directorate instructed not to execute warrant pending further orders.
Delhi HC denies bail to two accused in money laundering case involving AAP MLA Amanatullah Khan
The Delhi High Court has refused to grant bail to two individuals arrested in a money laundering case involving alleged irregularities in Delhi Waqf Board recruitment, including AAP MLA Amanatullah Khan. Justice Swarana Kanta Sharma dismissed bail pleas of accused Zeeshan Haider and Daud Nasir, stating there was sufficient material to attract the bar on bail under the anti-money laundering law.
Why Mahadev app not banned by Centre and Chhattisgarh governments: Bhupesh Baghel
Former Chhattisgarh Chief Minister Bhupesh Baghel criticised BJP MP Santosh Pandey's allegations in Lok Sabha regarding the Mahadev app scam, questioning why the BJP-led governments hadn't banned the platform. Baghel denied Pandey's accusations of operating a Rs 6,000 crore betting scheme during his tenure, pointing out that his government had taken action against the app's promoters. Baghel also expressed concerns over the app's continued operation under the current administration and plans to address the issue further.
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Excise 'scam': HC says BRS leader Kavitha one of main conspirators, denies bail
BRS leader K Kavitha faces charges of corruption and money laundering in the Delhi Excise Policy case. Despite her political background, the court denied her bail, emphasizing the seriousness of the allegations against her. Kavitha maintains her innocence, alleging a conspiracy by the central government and the ED in her arrest.
Former TN Minister Senthil Balaji constantly filing petitions to stall trial: ED
The Enforcement Directorate informed a sessions court that former Tamil Nadu Minister V Senthil Balaji has been filing numerous petitions to delay trial proceedings in a money laundering case. This was stated by Karthik Dasari, Deputy Director, Chennai Zonal Office, Directorate of Enforcement, in his counter affidavit submitted to Principal Sessions Judge S Alli. Dasari claimed that Balaji's actions have an "ulterior motive to stall the trial proceedings" and are causing delays in the trial's commencement.
FATF lauds India efforts to combat laundering and terrorist financing
The Financial Action Task Force (FATF) has recognized India's achievements in combating money laundering and terrorism funding. The MER, adopted in Singapore, places India in the'regular follow-up' category, a distinction shared by only four other G20 countries. The MER assessed India's measures and compliance with FATF norms.
'Good FATF rating to help India Inc raise overseas funds without elaborate background checks'
India has been given a good FATF rating, allowing domestic companies to access overseas investments without extensive background checks and enhanced due diligence processes. The Financial Action Task Force (FATF) praised India for its high level of technical compliance and its efforts in anti-money laundering and countering terror financing.
FATF report hailing India's anti-money laundering drive exemplary, satisfying: Sources
India's fight against money laundering and terror financing receives recognition and constructive feedback from the FATF. With continued efforts and improvements in supervision, India aims to strengthen its position and compliance on the global stage, fostering economic stability and integrity.
India passes anti-money laundering review, but FATF calls for improved oversight in non-financial sectors
India's compliance with anti-money laundering rules under FATF scrutiny includes improving supervision in non-financial sectors and facing criticism over counter-terrorism laws, with the country being a member of the FATF alongside major economies like the US, Japan, France, EU, and China.
FATF session begins today, India review also to be taken up
According to officials, the last mutual evaluation was conducted in 2009 and was delayed due to the Covid-19 pandemic. According to FATF, the international policy making body conducts mutual evaluations of its member countries by evaluating levels of implementation of the FATF recommendations.
FIU slaps Rs 18.82 cr penalty on crypto exchange Binance
FIU imposes Rs 18.82 crore penalty on Binance for alleged anti-money laundering law violation.
FIU imposes Rs 18.82 crore penalty on crypto exchange Binance
In May, Binance had registered with the FIU as the exchange sought to resume operations in the country after the watchdog issued show-cause notices to nine offshore exchanges operating in violation of local rules.
Land for jobs 'scam': Delhi HC directs medical evaluation of Lalu's aide Amit Katyal
The High Court emphasised that the right of health of an individual, being a facet of right to life under Article 21, cannot be abridged without due process of law in a mechanical manner and an individual can be released on an interim bail when specialized treatment and care, which cannot be provided in jail, is necessary.
'PMLA is Pradhan Mantri ki Lal Aankh': Kapil Sibal slams money laundering law
"PMLA is Pradhan Mantri ki Lak Aankh. It has nothing to do with Prevention of Money Laundering Act. It means you can send them over to ED who can do whatever they wish to do," Sibal said in a free-wheeling conversation with ANI.
Money laundering probe: ED raids ex-DPIIT secretary Ramesh Abhishek
The Enforcement Directorate raided retired IAS officer Ramesh Abhishek's premises in a money laundering probe linked to his tenure at the Department for Promotion of Industry and Internal Trade (DPIIT) and subsequent FIR by the Central Bureau of Investigation (CBI) under the commerce and industry ministry.
'I have learnt my lesson': HC waives Rs 75,000 costs on law student for PIL seeking bail for Kejriwal
The Delhi High Court waived the Rs 75,000 costs imposed on a law student for his PIL seeking "extraordinary interim bail" for CM Arvind Kejriwal after he tendered an unconditional apology, citing his inability to pay due to being a student. The court, understanding his situation, waived the costs.
Delhi excise scandal: ED likely to file another chargesheet soon
The federal agency had arrested an alleged Delhi-based cash courier named Vinod Chauhan earlier this month. The agency, in one of its previous charge sheets, had alleged that Chauhan received cash bags from associates of BRS leader and co-accused in the case K Kavitha, which were then allegedly transferred through hawala to AAP leaders in Goa.
Alamgir Alam, Jharkhand Minister, arrested by ED in money laundering case
Alamgir Alam ED Arrest: On Wednesday, the Enforcement Directorate (ED) arrested Jharkhand Minister and Congress leader Alamgir Alam in connection with a substantial cash recovery from the household help of his personal secretary and state administrative service officer, Sanjeev Kumar Lal. The Congress leader was grilled by ED officials for over nine hours on Tuesday in connection with a money laundering case. Alam, the state's Rural Development minister, arrived at the ED office around 11 am and departed around 8:30 pm.
Anna Hazare attacks Arvind Kejriwal, says he drowned under the influence of liquor money
Anna Hazare criticizes Delhi CM Arvind Kejriwal for alleged involvement in corruption, urging voters to reject tainted leaders. Kejriwal's purported role in the Delhi Liquor Scam draws condemnation. Hazare emphasizes the need for clean governance, expressing disappointment in Kejriwal's actions. Despite legal challenges, Kejriwal campaigns for Lok Sabha elections amid controversy, facing potential jail time.
Money laundering case: ED summons Jharkhand minister Alamgir Alam for questioning after massive cash seizure
The money laundering investigation pertains to alleged irregularities and payment of "bribes" in the state rural development department.
Panama Papers law firm boss Ramon Fonseca dead
Ramon Fonseca, co-founder of Mossack Fonseca involved in the Panama Papers scandal, died awaiting money-laundering trial sentencing. Jurgen Mossack, Daika Indira Levy, and health issues details emerged. Trial details, cause of death, and leaked documents remain undisclosed.
Mahadev betting app 'scam': Chhattisgarh EOW/ACB raids 29 places in five districts
Raids conducted by EOW/ACB in connection with Mahadev betting app scam during Congress government. Arrests made, including key app promoters. Money laundering investigation ongoing with involvement of multiple individuals and significant proceeds of crime.
Canada fines Binance $4.38 mln for money laundering violations
Canada's anti-money laundering agency on Thursday said it had imposed a nearly C$6 million ($4.38 million) fine on cryptocurrency exchange Binance for violating the money laundering and terrorist financing laws.
ED raids Jharkhand's rural development department premises
The money laundering case of September, 2020 is based on an anti-corruption branch (Jamshedpur) case of Jharkhand Police and a March 2023 FIR filed by the Economic Offences Wing (EOW) of the Delhi Police against former chief engineer of the state rural works department Veerendra Kumar Ram and some others.
Bombay High Court grants bail to IFIN chief executive Ramesh Bawa
While the Serious Fraud Investigation Office (SFIO) is probing Il&FS for alleged irregularities under Companies Law, the Enforcement Directorate (ED) is investigating a case of money laundering. K Ramanand, the erstwhile MD of ITNL and Arun Saha, former joint director of IFIN, were arrested by ED.
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