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ILLICIT ECONOMY
Black money rising faster than global GDP; CJI says $4.4 trillion could buy a laptop for every person on EarthGlobal illicit money flows reached $4.4 trillion in 2025, growing faster than the world economy. Organized crime and corruption alone accou...- US hits Cuba with new sanctions as island's crises multiplyThe United States has imposed new sanctions on Cuba, targeting its oil industry and individuals. These measures aim to further strain the i...
- Global Market: AI could force central banks to rethink monetary policyArtificial intelligence could fundamentally reshape financial markets and force central banks to rethink monetary policy communication and ...
- Uzbekistan backs India's permanent UNSC bid; both agree to set up FM-led mechanism, strengthen counter-terror cooperationUzbekistan supports India's permanent UNSC membership bid and will establish a Foreign Ministers-led oversight mechanism. Both nations cond...
- 'Economic D-Day': US announces expansion of sanctions in 'onslaught' on IranThe Trump administration has expanded its secondary sanctions against entities and countries doing business with Iran, warning them to cut ...
- Chinese AI model takes US tech industry by surprise with abilities rivalling Claude, ChatGPTThe newest Kimi K3 model from Beijing-based startup Moonshot, run by a Pink Floyd-loving entrepreneur who earned his doctorate in Pittsburg...
- US panic is missing the point on Chinese AISince last year, I have been tracking the trend of American startups using Chinese AI. This year, the shift has become harder to ignore. Bu...
- War and economic crisis complicate efforts to protect Iran's endangered wildlifeWar and economic crises are severely impacting Iran's endangered wildlife populations. Conservationists face immense challenges preserving ...
- US issues fresh Iran-related sanctions as conflict flaresThe United States has imposed new sanctions on Iran's financial networks. These sanctions target a key financier for Mojtaba Khamenei and o...
- India proposes dedicated BRICS Virtual Working Group to combat drug traffickingIn a proactive move, India has suggested establishing a dedicated virtual working group within BRICS to address the increasingly sophistica...
- No slowdown yet, but inflation and El Niño are risks: ITC's Sanjiv PuriITC Chairman Sanjiv Puri revealed plans for a Rs 20,000 crore investment over the medium term, including hotel expansion. He highlighted st...
- Retailers' body flags rise in illicit trade, seeks curbs on e-commerce practicesRetailers in India are facing challenges from e-commerce. The Federation of Retailers Association of India highlights issues like counterfe...
- FICCI CASCADE organises awareness rally about illicit trade and impact on economyThe FICCI Committee Against Smuggling and Counterfeiting Destroying the Economy (CASCADE) organised an awareness rally on Saturday to comba...
- India sees improvement in Global Terrorism Index; scaling of efforts can save USD 159 bn to money laundering"Illicit trade undermines national security, risks legitimate manufacturing, leaks government revenue, jeopardises public health and safety...
- Over Rs 58,000 crore in taxes lost due to illicit trade in FMCG, mobile, tobacco, alcohol industry: Ficci reportThe FMCG industry alone accounted for 75% of the total illicit value of goods in five key industries. Tobacco products and alcoholic bevera...
- India fourth largest exporter of illicit money: GFIThe report pegs cumulative illicit outflows from developing economies at $7.8 trillion between 2004 and 2013, the last year for which data ...
- Cost of counterfeiting to global economy may reach $1.77 tn: WEFThe value of the global illicit economy is regularly placed at over $1 trillion. However, data is often out of date, sometimes by more than...
- Black money: Rs 6 lakh crore illegally taken out of India in 2012Overall, just in 2012, nearly a trillion dollars ($991 billion) in illicit capital flowed out of developing and emerging economies the stud...
- $128 billion siphoned out of India in a decadeA report has calculated that between $104 bn and $128 bn was illegally siphoned out of India in the decade spanning 2000 to 2009.
- India lost $ 462 billion in illicit financial flows: ReportPost independence, India lost a staggering $ 462 billion in illicit financial flows due to tax evasion, crime and corruption.
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