Financial Crimes
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Multi-Crore 'Iridium' Scam Busted In Tamil Nadu, 27 Arrested
In a major crackdown on a large-scale financial fraud, the Crime Branch police of Tamil Nadu arrested 27 more people for their involvement in the multi-crore "Iridium scam" that duped people across the state by misusing the name of the RBI
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Probe Agency ED, Income Tax Department To Join Assam Police In Zubeen Garg Case: Report
The Enforcement Directorate (ED) and Income Tax (I-T) Department are likely to join the Assam Police in investigating alleged organised financial crimes and acquisition of benami properties by event manager Shyamkanu Mahanta.
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Turkey Said to Consider Granting Authorities Power to Freeze Crypto Accounts Under New AML Rules
Turkey is drafting anti-money laundering regulations to give the country’s financial crime regulator (or MASAK) the power to freeze and restrict cryptocurrency accounts. The rules will require exchanges to collect user details, delay withdrawals under certain conditions, and cap stablecoin transfers. Platforms following the Travel Rule may offer ...
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Mumbai Records Highest Economic Fraud Cases Among Metros In 2023: Report
Mumbai, the financial capital of the country, topped the list of metropolitan cities in economic offences with 6,476 such cases registered in 2023, as per the National Crime Records Bureau (NCRB) data.
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Auto Driver Arrested In UP For Raping, Killing Sex Worker In Mumbai: Cops
A 34-year-old autorickshaw driver was arrested from Uttar Pradesh' Mathura days after he allegedly raped and murdered a sex worker in Mumbai, officials said on Tuesday.
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Ukraine’s Parliament Backs Draft Law to Legalise, Tax Crypto and Virtual Assets
Ukraine’s parliament has approved the first reading of a crypto legalisation bill that introduces an 18 percent tax on digital asset profits. Lawmakers believe the framework could help recover up to $10 billion (roughly Rs. 88,000 crore) lost to crypto crime while aligning with EU rules. The move signals Ukraine’s intent to integrate crypto int...
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Indian-Origin Businessman Fined Rs 360 Crore In Dubai For Money Laundering
The case against Balvinder Singh Sahni, also known as Abu Sabah, has been described as one of the biggest financial crime trials in the UAE.
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Retired Kerala Couple Duped Of Life Savings Worth Rs 2.4 Crore In 'Virtual Arrest' Scam
Elderly retired government employees lost Rs 2.4 crore after being held under a "virtual arrest" for 11 days by cyber fraudsters in Kanhangad
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Binance Australia Must Conduct Audit Over Anti-Money Laundering Concerns, AUSTRAC Says
Australia’s financial crimes regulator, AUSTRAC, has directed Binance Australia to appoint an external auditor within 28 days after raising concerns about its anti-money laundering and counter-terrorism financing controls. The regulator cited gaps in governance, limited independent review scope, and high staff turnover. AUSTRAC said global crypto...
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Kerala Doctor Duped Of Rs 4.43 Crore In Online Trading Fraud; 2 Arrested
The Kerala Police's cyber crime unit arrested two men from Chennai in connection with a sophisticated online trading fraud that defrauded a doctor in Kannur of Rs 4.43 crore, officials said on Monday.
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Man Kills Painter In Delhi, Suspected Him Of Having Affair With Wife: Cops
A 47-year-old man allegedly killed a painter in Delhi, suspecting him of having an affair with his wife and not returning money he had lent him, an official said on Saturday.
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15 Bengaluru Locations Raided In Case Against Cooperative Bank Founder
The Enforcement Directorate, the federal agency that probes major financial crimes, carried out raids at 15 locations in Bengaluru in a money laundering case against N Srinivas Murthy, the founder of the Sushruti Souharda Cooperative Bank.
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Barclays Fined $56 Million Over Poor Handling Of Crime Risks
Britain's financial watchdog on Wednesday said it had fined Barclays bank $56 million for "poor handling of financial crime risks".
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Who Is Balvinder Singh Sahni, Indian-Origin Billionaire Jailed In Dubai For Money Laundering
Dubai-based Indian businessman Balvinder Singh Sahni will be jailed and deported from the United Arab Emirates (UAE) for financial crimes, including money laundering.
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FM Claims Access to WhatsApp Messages Led to Seizure of Crypto Worth Rs. 90 Crore
This week in Parliament, Finance Minister Nirmala Sitharaman stated that encrypted communication channels are being misused for financial crimes like money laundering and tax evasion. She revealed that authorities were able to seize over Rs. 90 crores in crypto assets from a syndicate thanks to access to WhatsApp messages.
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Multi-Crore 'Iridium' Scam Busted In Tamil Nadu, 27 Arrested
In a major crackdown on a large-scale financial fraud, the Crime Branch police of Tamil Nadu arrested 27 more people for their involvement in the multi-crore "Iridium scam" that duped people across the state by misusing the name of the RBI
-
Probe Agency ED, Income Tax Department To Join Assam Police In Zubeen Garg Case: Report
The Enforcement Directorate (ED) and Income Tax (I-T) Department are likely to join the Assam Police in investigating alleged organised financial crimes and acquisition of benami properties by event manager Shyamkanu Mahanta.
-
Turkey Said to Consider Granting Authorities Power to Freeze Crypto Accounts Under New AML Rules
Turkey is drafting anti-money laundering regulations to give the country’s financial crime regulator (or MASAK) the power to freeze and restrict cryptocurrency accounts. The rules will require exchanges to collect user details, delay withdrawals under certain conditions, and cap stablecoin transfers. Platforms following the Travel Rule may offer ...
-
Mumbai Records Highest Economic Fraud Cases Among Metros In 2023: Report
Mumbai, the financial capital of the country, topped the list of metropolitan cities in economic offences with 6,476 such cases registered in 2023, as per the National Crime Records Bureau (NCRB) data.
-
Auto Driver Arrested In UP For Raping, Killing Sex Worker In Mumbai: Cops
A 34-year-old autorickshaw driver was arrested from Uttar Pradesh' Mathura days after he allegedly raped and murdered a sex worker in Mumbai, officials said on Tuesday.
-
Ukraine’s Parliament Backs Draft Law to Legalise, Tax Crypto and Virtual Assets
Ukraine’s parliament has approved the first reading of a crypto legalisation bill that introduces an 18 percent tax on digital asset profits. Lawmakers believe the framework could help recover up to $10 billion (roughly Rs. 88,000 crore) lost to crypto crime while aligning with EU rules. The move signals Ukraine’s intent to integrate crypto int...
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Indian-Origin Businessman Fined Rs 360 Crore In Dubai For Money Laundering
The case against Balvinder Singh Sahni, also known as Abu Sabah, has been described as one of the biggest financial crime trials in the UAE.
-
Retired Kerala Couple Duped Of Life Savings Worth Rs 2.4 Crore In 'Virtual Arrest' Scam
Elderly retired government employees lost Rs 2.4 crore after being held under a "virtual arrest" for 11 days by cyber fraudsters in Kanhangad
-
Binance Australia Must Conduct Audit Over Anti-Money Laundering Concerns, AUSTRAC Says
Australia’s financial crimes regulator, AUSTRAC, has directed Binance Australia to appoint an external auditor within 28 days after raising concerns about its anti-money laundering and counter-terrorism financing controls. The regulator cited gaps in governance, limited independent review scope, and high staff turnover. AUSTRAC said global crypto...
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Kerala Doctor Duped Of Rs 4.43 Crore In Online Trading Fraud; 2 Arrested
The Kerala Police's cyber crime unit arrested two men from Chennai in connection with a sophisticated online trading fraud that defrauded a doctor in Kannur of Rs 4.43 crore, officials said on Monday.
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Man Kills Painter In Delhi, Suspected Him Of Having Affair With Wife: Cops
A 47-year-old man allegedly killed a painter in Delhi, suspecting him of having an affair with his wife and not returning money he had lent him, an official said on Saturday.
-
15 Bengaluru Locations Raided In Case Against Cooperative Bank Founder
The Enforcement Directorate, the federal agency that probes major financial crimes, carried out raids at 15 locations in Bengaluru in a money laundering case against N Srinivas Murthy, the founder of the Sushruti Souharda Cooperative Bank.
-
Barclays Fined $56 Million Over Poor Handling Of Crime Risks
Britain's financial watchdog on Wednesday said it had fined Barclays bank $56 million for "poor handling of financial crime risks".
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Who Is Balvinder Singh Sahni, Indian-Origin Billionaire Jailed In Dubai For Money Laundering
Dubai-based Indian businessman Balvinder Singh Sahni will be jailed and deported from the United Arab Emirates (UAE) for financial crimes, including money laundering.
-
FM Claims Access to WhatsApp Messages Led to Seizure of Crypto Worth Rs. 90 Crore
This week in Parliament, Finance Minister Nirmala Sitharaman stated that encrypted communication channels are being misused for financial crimes like money laundering and tax evasion. She revealed that authorities were able to seize over Rs. 90 crores in crypto assets from a syndicate thanks to access to WhatsApp messages.
