Outflow from developing nations a matter of concern: Sinha

Last Updated: Wednesday, September 2, 2015, 22:02

Expressing concerns over the outflow of funds from developing countries, including India, through money laundering and other ways, Minister of State for Finance Jayant Sinha Wednesday said as much as USD 300-600 billion moves out through such channels.

SEBI steps up black money fight; busts gains through 'losses'

Last Updated: Sunday, August 23, 2015, 18:33

As it steps up its crackdown on tax evasion and laundering of black money through stock markets, regulator SEBI has busted an 'innovative' scheme wherein HNIs were incurring 'bogus losses' to offset tax liabilities.

Aircel-Maxis: SC stays ED proceedings to attach Sun TV assets

Last Updated: Friday, August 21, 2015, 19:00

The Supreme Court on Friday stayed the proceedings undertaken by the Enforcement Directorate (ED) to provisionally attach Sun TV network's assets worth Rs 742 crore in the Aircel-Maxis deal case.

Hong Kong fines SBI for anti-money laundering law violation

Last Updated: Friday, July 31, 2015, 18:33

The Hong Kong central bank on Friday penalised State Bank of India's Hong Kong branch USD 1 million (Hong Kong dollar 7.5 million) for alleged violation of local anti-money laundering and counter-terror financing laws.

Black money: Curb betting in cricket, check donations, says SIT

Last Updated: Friday, July 24, 2015, 18:50

To check the black money menace, SIT Friday called for effective norms to curb betting in cricket and a stronger set of norms for P-Notes, while also making a case for bringing donations to educational and religious bodies under tax net.

Ex-IMF chief Rato refuses to testify on fraud charges

Last Updated: Wednesday, July 22, 2015, 23:18

The ex-head of the International Monetary Fund Rodrigo Rato refused to answer a judge`s questions Wednesday over the latest in a string of fraud charges against him, a source close to the case said.

US Fed raps China Construction Bank over money laundering

Last Updated: Wednesday, July 22, 2015, 15:33

Within 60 days, the bank should submit plans for compliance programs for anti-money laundering controls, customer due diligence programs, and methods for spotting suspicious transactions, the Fed said.

Black Money: PMLA action if illegal foreign assets not disclosed by Sept 30

Last Updated: Monday, July 20, 2015, 15:35

Those holding illegal foreign assets abroad and not disclosing it by September 30 will face action under the stringent anti-money laundering law, the taxman has warned.

BSE wants exemption to go to check tax evasion through stocks

Last Updated: Friday, July 17, 2015, 12:37

To prevent money laundering and tax evasion through misuse of securities markets, leading stock exchange BSE has suggested removal of the long-term capital gains tax on transactions in stocks.

End capital gains tax exemption to curb money laundering: BSE

Last Updated: Thursday, July 9, 2015, 23:58

The Bombay Stock Exchange (BSE) Thursday called for ending exemption of capital gains tax on securities to contain various entities using capital markets to evade taxes and launder money.

Black money: ED attaches Rs 116 crore kept in Singapore bank

Last Updated: Wednesday, July 8, 2015, 00:53

In a major success in black money probe, the Enforcement Directorate (ED) has successfully attached around Rs 166 crore kept in a Singapore bank in connection with money laundering probe in a city-based ponzi scam case.

Black money: Govt warns of consequences for non-disclosure of foreign assets

Last Updated: Monday, July 6, 2015, 19:35

The Finance Ministry said that if undisclosed assets are unearthed by the tax department at a future date, then 120 percent tax and penalty would be levied on its fair market value on that date, besides a jail term.