The latest FATF report reveals that only 9,500 of the 175,000 dealers in precious metals and stones (DPMS) are registered with the Gems & Jewellery Export Promotion Council.
The task force adopted the country’s Mutual Evaluation Report at the three-day Plenary held in Singapore that culminated today June 28.
The ED has confiscated properties including a bungalow in Pune and equity shares owned by Raj Kundra.
FinMin action comes after FIU-IND received specific info on a few entities engaging in illegal acts, including organising and facilitating online gambling
South Asia, mainly India, has the most firms with circular ownership concerns, finds Moody's Analytics.
According to reports, the Directorate of Revenue Intelligence (DRI) recently apprehended a close aid of Munjal in relation to money laundering and the possession of undeclared foreign currency
ED seizes 17 high-end luxury vehicles worth ₹60 cr, jewellery or bullion worth ₹5.75 cr, ₹15 lakh cash, and many incriminating documents
One of the biggest challenges in combating money laundering through cryptocurrencies is the lack of regulations. They are not currently recognised as legal tender in India.
Latest move will give law enforcement agencies more powers to crack down on money laundering via crypto routes
They are conduits for money laundering, hiding money and properties and evading tax, thereby making a mockery of corporate governance.
