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FOREIGN REMITTANCE FRAUD
81-year-old Bengaluru CA helps 8 companies send Rs 200 crore overseas, seeks protection from arrest after tax evasion probe, blames staff misused his digital signatureAn 81-year-old Bengaluru chartered accountant allegedly issued 163 Form 15CB certificates for eight companies involved in foreign remittanc...- State Bank of India expands US footprint with new branch in TexasState Bank of India expanded its banking subsidiary footprint in the United States with the inauguration of a new branch of SBIC Bank in Fr...
- Check gate before the horse boltsIndia is facing challenges in managing foreign remittances, particularly concerning fraudulent transactions and proper certification. A pro...
- India must rethink cross-border payments beyond corridors, put customers first: DeloitteA shift from corridor-led expansion to customer-centric design forms the core principle needed to drive the next stage of India's cross-bor...
- Pawan Khera flags H-1B fee extension, warns of impact on Indian IT talentThe US administration has renewed a USD 100,000 fee for certain H-1B visa petitions. This move could significantly affect Indian IT profess...
- India's Serious Fraud Office recommends 'detailed' probe into Xiaomi's business in countryIndia's Serious Fraud Office proposed investigating Xiaomi for alleged business irregularities. The probe would examine fund movements and ...
- EbixCash World Money's perpetual RBI licence brings trade and family remittances within reach of millionsUnder RBI's revised FEMA framework, EbixCash World Money can now move trade payments up to ₹25 lakh and family maintenance remittances, ope...
- Delhi cyberfrauds siphoned Rs 4,900-cr cyber crime money abroad: EDThe Enforcement Directorate arrested two Delhi-based cyber criminals, Punit Kumar and Ashish Kakkar, for siphoning off over Rs 4,900 crore ...
- Travel agents' association urges govt to abolish implementation of TCS scheduled for Oct 1The Travel Agents Association of India (TAAI) has appealed to the Indian government to abolish or defer the implementation of the new Tax C...
- ED arrests Pandit Saurabh at New Delhi airport in connection with IndusInd bank fraud caseAccording to an ED official Saurabh is accused of sending foreign remittance with the help of fake bills of entries during demonetisation p...
- Indian Banks' Association looking for forensic auditors to check bank fraudsBesides, such firms are required to employ email cracking tools voice interpreter, mobile call interpreter, big data analysing tools and li...
- SFIO probes 11 companies for suspicious forex transactionsThe government had however mentioned earlier that the BoB case pertains to alleged irregularities in outward foreign remittances.
- Kingfisher Airlines case: Even months after FIR, CBI fails to send Letters RogatoryCBI suspects a 'major chunk' of loans taken from IDBI Bank, which was transferred to Axis Bank, was used for foreign remittances .
- Kingfisher Airlines case: Even after months after FIR, CBI fails to send Letters RogatoryCBI suspects that a "major chunk" of the loans taken from the IDBI Bank was used for foreign remittances towards lease rentals, purchase of...
- No financial loss to bank in money laundering case: Oriental Bank of CommerceThe agency has also arrested a Ghaziabad-based foreign exchange operator for sending these illegal remittances to these foreign locations.
- Need quick action to curb fraud: Raghuram RajanRajan said cases will be pursued both by the central bank and investigative agencies to the "ultimate conclusion" to ensure that guilty are...
- Serious Fraud Investigation Office starts probe into BoB Rs 6,100-crore money laundering case"Besides CBI and ED, SFIO has also initiated a probe into the BoB matter," a senior Finance Ministry official said.
- Finance Ministry wants CBI to fast-track Bank of Baroda fraud case"We want CBI to complete investigation expeditiously. As of now, we don't know whether the amount involved is Rs 6,000 crore," a top minist...
- UAE Exchange teams up with NICE Actimize to check crimeGlobal remittance and foreign exchange brand UAE Exchange has joined hands with financial crime solutions provider NICE Actimize.
- $700 million sent out of India through ‘legal hawala’In the three cases under investigation, a total of $700 million was sent out of India, mainly to trading hubs like Dubai and Hong Kong, in ...
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