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CUSTOMS EVASION
Indian money in Swiss banks dips to CHF 3.25 bn; customer deposits upIndian funds in Swiss banks saw a decrease in 2025, reaching 3.25 billion Swiss francs. However, customer deposits experienced a significan...- Digital arrest: How India’s fastest-growing scam uses fake investigations and video calls to siphon off croresThey pose as the police, put you under ‘digital arrest’, and tether you to a video call till your savings are gone. How India’s fastest gro...
- Trump orders tighter banking scrutiny of undocumented migrants, warns of account seizuresPresident Trump announced an executive order to shut down and seize funds from bank accounts supporting illegal immigration or holding welf...
- Google blocked the first known AI-powered attack on 2FA accounts; here is how hackers tried to break in, know how to stay safeForeign hackers attempted a novel AI-powered cyberattack targeting two-factor authentication using a zero-day exploit. Google's Threat Inte...
- Non-citizens in US face more scrutiny on bank activities after Trump orderBanks will face increased scrutiny on non-citizen banking activities following a new executive order. The directive mandates flagging payro...
- Higher gold import duty may boost gold loan demand, says Nirmal JainIncreased import duties on gold, while potentially impacting jewellery demand, present new opportunities for the gold loan industry. Higher...
- India must leverage its digital verification architecture to evolve into a trust-based economyIndia faces a low-trust economy with high friction, exemplified by complex KYC norms. Finance Minister Nirmala Sitharaman highlighted this ...
- One of Iran's most powerful families founded its largest crypto exchange. It's used by the IRGC to move millionsIran's largest cryptocurrency exchange, Nobitex, is controlled by the sons of the influential Kharrazi family, who concealed their ties for...
- Indian Bank Q4 profit rises 5% to Rs 2,956 croreIndian Bank announced a 5% increase in net profit for the fourth quarter. The bank saw its operating profit rise and its gross and net non-...
- Direct vs indirect taxes: Key differences and how they impact taxpayers and prices in IndiaIf you are confused by personal finance terms, jargon and calculations, here’s a series to simplify and deconstruct these for you. In the 9...
- Protest erupts in Nepal against taxation on imports above 100 rupees from IndiaProtests have erupted in Birgunj, Nepal, against a new government directive taxing all imports from India exceeding NRS 100. This strict en...
- Kempegowda gold bust: DRI seizes Rs 5 crore of gold after uncovering a international smuggling ring at Bengaluru airportThe Directorate of Revenue Intelligence has busted an international gold smuggling network at Bengaluru's Kempegowda International Airport,...
- DRI officials' powers to issue notices in tax evasion cases may be restoredThe amendment will allow the agency to go ahead with their proceedings in multiple cases that had been put on hold following a Supreme Cour...
- CBIC asks taxmen to complete GST evasion investigations within a yearThe CBIC observed if the issuance of SCNs is pushed to close proximity of the end dates/last dates, it may leave very little time with the ...
- GST evasion worth Rs 38,896 cr detected during April-OctMinister of State for Finance Shiv Pratap Shukla said while central excise evasion of Rs 3,028.58 crore in 398 cases was unearthed during t...
- Customs duty evasion: Finance Ministry proposes to reduce penaltyThe Centre has also proposed to rationalise imposition of penalty on central excise duty and service tax evasions by fraud and other means.
- Cross-border tax evasion worth Rs 9,951 crore detected in last 3 yearsThe customs field formations, including Directorate of Revenue Intelligence, detected 1,914 cases involving tax evasion worth Rs 4,769.25 c...
- Finance Ministry detects about Rs 1,000 cr customs, excise duty evasionThe Finance Ministry has detected customs and excise duty evasion of at least Rs 1,000 crore between January and July.
- Government to tighten Customs laws to check duty evasionGovernment has proposed to tighten the Customs laws by making violation of certain provisions as cognizable offences.
- HP evaded Rs 1450cr duty: DRIThe Bangalore zonal unit of the Directorate of Revenue Intelligence has unearthed the biggest customs duty evasion by any company in India,...
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