Combat Money Laundering
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Key Takeaways From Vladimir Putin's Two-Day India Visit
India and Russia on Friday reaffirmed their commitment to strengthening bilateral and multilateral cooperation to combat terrorism, extremism, transnational organised crime, money laundering, terrorist financing, and illicit drug trafficking.
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Tron, Tether, and TRM Labs Unite via Financial Crime Unit T3, Freeze $126 Million in Illicit Funds
This week, Tron confirmed that the T3 unit successfully retrieved and froze $126 million (roughly Rs. 1,081 crore) in crime-related funds. Established by Tron, Tether, and TRM Labs, the T3 financial crime unit was created to combat the criminal misuse of USDT on the Tron network.
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FIU-Nepal Flags Rise in Crypto-Based Money Laundering; Plans to Increase Tracking, Awareness
FIU-Nepal has said that the laundering of illicit funding through cryptocurrencies has spiked in the country. In its report, the Nepal Rastra Bank noted conversion of proceeds of fraud to cryptocurrency or for online betting purpose has also been frequently observed.
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India, Qatar's Financial Intelligence Units Partner to Combat Money Laundering through Virtual Digital Assets
This week, the Financial Intelligence Units of India and the UAE met in New Delhi to finalise an agreement. The two nations committed to collaborating in efforts to prevent the misuse of crypto assets by unlawful entities for illicit financial transfers.
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UNODC Proposes Penalties for Unlicensed Crypto Firms in Southeast Asia to Combat Growing Cyber Fraud
In response to the surge in cyber fraud across Southeast Asia, the UNODC has recommended penalizing unlicensed crypto firms, which are being exploited by money launderers to enable illegal transactions. The report emphasizes the need for authorities to "identify and prevent" unregulated and unlicensed Virtual Asset Service Providers (VASPs), partic...
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Anti-Terror Watchdog Praises India's Efforts In Combating Money Laundering
The Financial Action Task Force (FATF) on Friday adopted the mutual evaluation report of India's anti-money laundering and countering the financing of terrorism regime, a move the government termed a "significant milestone".
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Parliament Passes Bill to Levy 28 Percent GST on Online Games; Offshore Gaming Firms to Need Registration
Parliament on Friday approved amendments to the Central and Integrated GST laws to levy 28 percent tax on the full face value of bets in online gaming, casinos and horse race clubs. The CGST amendment bill defines 'online gaming' as a game on the internet or an electronic network.
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G-20 Leaders Will Support Efforts To Combat Money Laundering, Terror Financing
G-20 leaders, including PM Modi, have reaffirmed their full support for the Financial Action Task Force and recognised that effective implementation of the measures put in place to combat money laundering, terrorist financing.
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Nirmala Sitharaman, US Treasury Secretary Discuss Combating Terror Funding
Union Finance Minister Nirmala Sitharaman and her American counterpart Janet Yellen on Thursday discussed among other issues fighting illicit finance, money laundering and combating terrorism financing.
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PM Narendra Modi's 5 Key Announcements In New Year Eve Address To Nation
Thanking people for their support and cooperation to his demonetisation drive, Prime Minister Narendra Modi today made a series of announcements reiterating his government's focus on the welfare of farmers and the poor. He was making a televised address to the nation on new year's eve and said he was grateful for the patience that people had shown ...
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Focus Now On Printing 500-Rupee Notes, Says Government: 10 Points
The government is now focusing on printing 500 rupee notes, Economic Affairs Secretary Shaktikanta Das said on Thursday, hours before a deadline for using old 500 and 1000 rupee notes at petrol pumps and some other facilities ended. From midnight to December 30, old notes can only be deposited in banks. Prime Minister Narendra Modi had on November ...
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India, Indonesia Seek To Combat Terror Through Defence Cooperation
India and Indonesia today agreed to strengthen defence and security ties with a major focus on maritime space and deepen cooperation for effectively combating terror, its financing, money laundering and arms smuggling.
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44 Fake Accounts With Rs 100 Crore Found In Raids On Delhi Axis Bank Branch
Income Tax officers have in a raid allegedly unearthed 44 fake accounts at a branch of Axis Bank in central Delhi's Chandni Chowk. Tax officials said about Rs 100 crore in old notes have been deposited in these accounts since November 8, when Prime Minister Narendra Modi banned 500 and 1000 rupee notes to combat black money and money laundering.
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Panama Needs New Anti-Corruption Laws To Combat Tax Dodgers: Panel
Panama can remain a competitive financial center while cracking down on tax evaders and other criminals who have used the country to launder money, according to the panel formed by the government after the "Panama Papers" scandal broke in April.
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US, India To Cooperate On Checking Tax Evasion, Terror Funding
India and the US have agreed to enhance cooperation on tackling offshore tax evasion through information sharing and joint audits, while intensifying efforts to combat money laundering and terror financing.
-
Key Takeaways From Vladimir Putin's Two-Day India Visit
India and Russia on Friday reaffirmed their commitment to strengthening bilateral and multilateral cooperation to combat terrorism, extremism, transnational organised crime, money laundering, terrorist financing, and illicit drug trafficking.
-
Tron, Tether, and TRM Labs Unite via Financial Crime Unit T3, Freeze $126 Million in Illicit Funds
This week, Tron confirmed that the T3 unit successfully retrieved and froze $126 million (roughly Rs. 1,081 crore) in crime-related funds. Established by Tron, Tether, and TRM Labs, the T3 financial crime unit was created to combat the criminal misuse of USDT on the Tron network.
-
FIU-Nepal Flags Rise in Crypto-Based Money Laundering; Plans to Increase Tracking, Awareness
FIU-Nepal has said that the laundering of illicit funding through cryptocurrencies has spiked in the country. In its report, the Nepal Rastra Bank noted conversion of proceeds of fraud to cryptocurrency or for online betting purpose has also been frequently observed.
-
India, Qatar's Financial Intelligence Units Partner to Combat Money Laundering through Virtual Digital Assets
This week, the Financial Intelligence Units of India and the UAE met in New Delhi to finalise an agreement. The two nations committed to collaborating in efforts to prevent the misuse of crypto assets by unlawful entities for illicit financial transfers.
-
UNODC Proposes Penalties for Unlicensed Crypto Firms in Southeast Asia to Combat Growing Cyber Fraud
In response to the surge in cyber fraud across Southeast Asia, the UNODC has recommended penalizing unlicensed crypto firms, which are being exploited by money launderers to enable illegal transactions. The report emphasizes the need for authorities to "identify and prevent" unregulated and unlicensed Virtual Asset Service Providers (VASPs), partic...
-
Anti-Terror Watchdog Praises India's Efforts In Combating Money Laundering
The Financial Action Task Force (FATF) on Friday adopted the mutual evaluation report of India's anti-money laundering and countering the financing of terrorism regime, a move the government termed a "significant milestone".
-
Parliament Passes Bill to Levy 28 Percent GST on Online Games; Offshore Gaming Firms to Need Registration
Parliament on Friday approved amendments to the Central and Integrated GST laws to levy 28 percent tax on the full face value of bets in online gaming, casinos and horse race clubs. The CGST amendment bill defines 'online gaming' as a game on the internet or an electronic network.
-
G-20 Leaders Will Support Efforts To Combat Money Laundering, Terror Financing
G-20 leaders, including PM Modi, have reaffirmed their full support for the Financial Action Task Force and recognised that effective implementation of the measures put in place to combat money laundering, terrorist financing.
-
Nirmala Sitharaman, US Treasury Secretary Discuss Combating Terror Funding
Union Finance Minister Nirmala Sitharaman and her American counterpart Janet Yellen on Thursday discussed among other issues fighting illicit finance, money laundering and combating terrorism financing.
-
PM Narendra Modi's 5 Key Announcements In New Year Eve Address To Nation
Thanking people for their support and cooperation to his demonetisation drive, Prime Minister Narendra Modi today made a series of announcements reiterating his government's focus on the welfare of farmers and the poor. He was making a televised address to the nation on new year's eve and said he was grateful for the patience that people had shown ...
-
Focus Now On Printing 500-Rupee Notes, Says Government: 10 Points
The government is now focusing on printing 500 rupee notes, Economic Affairs Secretary Shaktikanta Das said on Thursday, hours before a deadline for using old 500 and 1000 rupee notes at petrol pumps and some other facilities ended. From midnight to December 30, old notes can only be deposited in banks. Prime Minister Narendra Modi had on November ...
-
India, Indonesia Seek To Combat Terror Through Defence Cooperation
India and Indonesia today agreed to strengthen defence and security ties with a major focus on maritime space and deepen cooperation for effectively combating terror, its financing, money laundering and arms smuggling.
-
44 Fake Accounts With Rs 100 Crore Found In Raids On Delhi Axis Bank Branch
Income Tax officers have in a raid allegedly unearthed 44 fake accounts at a branch of Axis Bank in central Delhi's Chandni Chowk. Tax officials said about Rs 100 crore in old notes have been deposited in these accounts since November 8, when Prime Minister Narendra Modi banned 500 and 1000 rupee notes to combat black money and money laundering.
-
Panama Needs New Anti-Corruption Laws To Combat Tax Dodgers: Panel
Panama can remain a competitive financial center while cracking down on tax evaders and other criminals who have used the country to launder money, according to the panel formed by the government after the "Panama Papers" scandal broke in April.
-
US, India To Cooperate On Checking Tax Evasion, Terror Funding
India and the US have agreed to enhance cooperation on tackling offshore tax evasion through information sharing and joint audits, while intensifying efforts to combat money laundering and terror financing.
