Immunity from FEMA for disclosures of black money: Govt

Last Updated: Monday, July 6, 2015, 18:25

The government will give immunity from prosecution under FEMA, Prevention of Money Laundering Act and four other laws to persons declaring undisclosed foreign assets under the compliance window of the new Black Money Act.

Coal scam probe: ED files five new FIRs

Last Updated: Sunday, July 5, 2015, 19:00

The Enforcement Directorate (ED) has registered five fresh money laundering cases against firms in various parts of the country as part of its criminal probe in the Coal scam case.

Sebi enhances vigil for money laundering through stock market

Last Updated: Sunday, June 28, 2015, 16:40

To check laundering of black money through stock market platform, regulator has enhanced its vigil for the entities engaged in such illicit trades and has suggested further probe by other agencies in this regard.

Standard format for banks to share money laundering, fraud info on anvil

Last Updated: Sunday, June 28, 2015, 15:05

The RBI, banks and law enforcement agencies are working on a standard reporting format for banks to share investigation-related information after central agencies like IB and CBI complained about receiving data in different formats making deciphering difficult.

Money laundering: RBI advised to share banks inspection report

Last Updated: Thursday, June 25, 2015, 15:49

The Reserve Bank of India has been advised by the Law Ministry to share extracts of its banks' inspection reports with intelligence and law enforcement agencies to help check money laundering and violations of other banking laws.

Italian prosecutors seek to indict Bank of China, 297 people

Last Updated: Sunday, June 21, 2015, 19:10

Italian prosecutors are seeking to indict 297 people and the Bank of China in connection with a massive money-laundering investigation reported earlier this month.

Switzerland admits being 'attractive' for money laundering

Last Updated: Sunday, June 21, 2015, 15:17

In a first major admission of being an "attractive location" for laundering of assets amassed illegally abroad, Switzerland has said it needs to further strengthen systems for combating money laundering and terrorist financing.

ED attaches properties of Gems Cables and Conductors

Last Updated: Friday, June 19, 2015, 19:51

"During investigation under PMLA, proceeds of the crime were identified in the form of movable and immovable properties. Totally, three immovable properties of value of around Rs 6.03 crore and one movable property of value of Rs 4.43 crore held by M/s Gem Cables and Conductors were attached," the release stated.

Switzerland may tighten anti-money laundering rules

Last Updated: Friday, June 19, 2015, 19:13

Switzerland may tighten its anti-money laundering laws after a report by a government-appointed group found the country was still subject to financial crime.

Switzerland plans stringent norms to fight black money menace

Last Updated: Sunday, June 7, 2015, 18:50

The new Federal Act on the International Automatic Exchange of Information in Tax Matters (AEOI Act) contains provisions on the organisation, the procedure, the judicial channels and the applicable criminal provisions.

Deutsche Bank probes $6 billion suspected money laundering

Last Updated: Saturday, June 6, 2015, 08:29

Deutsche Bank AG is looking into possible money laundering transactions by some of its clients in Russia which could exceed $6 billion, a source familiar with the matter told Reuters on Friday.