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Financial Crimes

Rs 14,131.6 crore recovered from Vijay Mallya's asset sales: FM Sitharaman

The Enforcement Directorate has restored assets worth Rs 22,280 crore to victims or rightful claimants from cases involving economic offences, the finance minister informed Lok Sabha

Rs 14,131.6 crore recovered from Vijay Mallya's asset sales: FM Sitharaman
Updated On : 18 Dec 2024 | 1:41 PM IST

Vietnam upholds tycoon Truong My Lan's death sentence unless she pays $9 bn

Real estate tycoon Truong My La has been ordered to pay three-quarters of the amount she is accused of defrauding to have her ruling reduced to a life sentence

Vietnam upholds tycoon Truong My Lan's death sentence unless she pays $9 bn
Updated On : 04 Dec 2024 | 12:43 PM IST

At the BS BFSI Summit, experts stress KYC, and tech to curb digital fraud

Business Standard BFSI Insight Summit 2024: Industry leaders discuss KYC, anti-fraud tech, and user education as essential defences against rising digital financial crime

At the BS BFSI Summit, experts stress KYC, and tech to curb digital fraud
Updated On : 07 Nov 2024 | 8:13 PM IST

Determined to respond to financial crime risks: Singapore PM Wong

Singapore published a national asset recovery strategy report as part of its efforts to enhance its anti-money laundering

Determined to respond to financial crime risks: Singapore PM Wong
Updated On : 26 Jun 2024 | 10:28 AM IST

ED has not yet found forex breaches at Paytm Payments Bank: Report

Last week, India's Enforcement Directorate announced the investigation into overseas transactions by Paytm Payments Bank, a unit of One 97 Communications, popularly known as Paytm

ED has not yet found forex breaches at Paytm Payments Bank: Report
Updated On : 19 Feb 2024 | 3:24 PM IST

Rs 2,500 cr crypto scam: Kingpin Subhash Sharma hiding in UAE, says SIT

The special investigation team (SIT) probing the Rs 2,500-crore cryptocurrency scam would approach the competent court on November 28 to seek a warrant for the extradition of fugitive kingpin Subhash Sharma from UAE, officials said on Saturday. The kingpin of the scam Subhash Sharma from Sarkaghat in Himachal Pradesh's Mandi district is still at large and as per our information, he is hiding in UAE. Efforts are underway to bring him back, Deputy Inspector General of Police (DIG) northern range, Abhishek Dhullar, who is heading the SIT, told PTI. The multi-crore cryptocurrency ponzi scam started in 2018. The investors smelled something fishy when they stopped getting returns during the Covid pandemic when most business activities came to a halt. Later when they asked the accused about their pending returns, they realised they had fallen into a trap and were threatened to keep shut, the police said. The fraudsters threatened the victims that they would lose all their invested money i

Rs 2,500 cr crypto scam: Kingpin Subhash Sharma hiding in UAE, says SIT
Updated On : 25 Nov 2023 | 10:08 PM IST

US seeks over $4 billion from crypto exchange Binance to end criminal case

The US Justice Department has been investigating Binance for allegedly aiding in the evasion of US sanctions against Iran and Russia

US seeks over $4 billion from crypto exchange Binance to end criminal case
Updated On : 20 Nov 2023 | 11:30 PM IST

Money laundering has become real threat with advent of tech, AI: SC

With the advancement of technology and artificial intelligence, economic offences such as money laundering have become a real threat to the functioning of the financial system of the country, the Supreme Court said on Monday while dismissing the bail plea of an accused. Dismissing the bail plea of an employee of Shakti Bhog Foods Limited in a money laundering case, a bench of Justices Aniruddha Bose and Bela M Trivedi said economic offences have serious repercussions on the development of the country as a whole. "With the advancement of technology and artificial intelligence, the economic offences like money laundering have become a real threat to the functioning of the financial system of the country and have become a great challenge for the investigating agencies to detect and comprehend the intricate nature of transactions, as also the role of the persons involved therein. "A lot of minute exercise is expected to be undertaken by the investigating agency to see that no innocent .

Money laundering has become real threat with advent of tech, AI: SC
Updated On : 20 Nov 2023 | 9:22 PM IST

Genpact integrates GenAI in financial crime analysis to save time and costs

Genpact said it was the first company to provide a financial crime GenAI solution on Amazon Bedrock

Genpact integrates GenAI in financial crime analysis to save time and costs
Updated On : 29 Sep 2023 | 1:48 PM IST

Story in numbers: PMLA registrations up four-fold, higher than a decade ago

According to the Enforcement Directorate (ED) data on PMLA, 5,422 cases are under investigation, 400 have been arrested and 25 convicted until March 31, 2022

Story in numbers: PMLA registrations up four-fold, higher than a decade ago
Updated On : 01 Jan 2023 | 11:49 PM IST

Hacker steals $625 mn in crypto from Blockchain platform Ronin

In December last year, cyber criminals stole cryptocurrency worth $80 million from Qubit Finance, a decentralised finance (DeFi) platform.

Hacker steals $625 mn in crypto from Blockchain platform Ronin
Updated On : 30 Mar 2022 | 10:42 AM IST

7 Indian-origin persons charged in million dollar insider trading scheme

The SEC's complaint, filed in the Northern District of California, charges each of the defendants with violating antifraud provisions of the Securities Exchange Act.

7 Indian-origin persons charged in million dollar insider trading scheme
Updated On : 29 Mar 2022 | 8:17 AM IST

Cases should be taken to logical conclusion expeditiously: FM to DRI

Finance Minister said logical conclusion is important but speedier conclusion is what will keep the heat on people who are promoting these kinds of activities

Cases should be taken to logical conclusion expeditiously: FM to DRI
Updated On : 04 Dec 2021 | 1:54 PM IST

Wall Street enforcement to get tougher as SEC's new top cop gets to work

Former New Jersey Attorney General Gurbir Grewal starts work at the U.S. Securities and Exchange Commission (SEC) on Monday

Wall Street enforcement to get tougher as SEC's new top cop gets to work
Updated On : 26 Jul 2021 | 6:22 PM IST

FATF to evaluate India's mechanism to deal with financial crimes this year

The FATF, the global body against money laundering and terror financing, is likely to carry out an evaluation of India's established mechanism to deal with such financial crimes later this year.

FATF to evaluate India's mechanism to deal with financial crimes this year
Updated On : 11 Apr 2021 | 8:10 PM IST

Malaysia's Ambank to pay government $700 million in 1MDB-linked settlement

This relates to a multi-billion-dollar financial scandal at state fund 1MDB

Malaysia's Ambank to pay government $700 million in 1MDB-linked settlement
Updated On : 26 Feb 2021 | 8:19 PM IST

Religare scam: Anticipatory bail plea of former director dismissed

A Delhi court has dismissed an anticipatory bail plea of Avinash Chander Mahajan, former independent director of Religare Finvest Ltd

Religare scam: Anticipatory bail plea of former director dismissed
Updated On : 22 Feb 2021 | 5:00 PM IST

ED arrests actor-businessman Sachin Joshi in money laundering case

Joshi is an actor-producer hailing from a family having gutka manufacturing business

ED arrests actor-businessman Sachin Joshi in money laundering case
Updated On : 15 Feb 2021 | 8:23 PM IST

CBI books six Indian Overseas Bank officials for misappropriating money

The CBI has booked six officials of the Indian Overseas Bank in Andhra Pradesh's Vijaywada and Guntur

CBI books six Indian Overseas Bank officials for misappropriating money
Updated On : 29 Jan 2021 | 4:04 PM IST
Updated On : 27 Jan 2021 | 3:55 PM IST