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Govt tightens screws on money laundering

–NA body approves bill under which accused can get 10-year imprisonment and fine of Rs5m. –Investigating agencies can arrest suspects without arrest warrant, hold them in custody for 180 days. –SBP’s permission will be needed to send or receive $10,000 …Read more





Danish government looks to tighten screws on money laundering banks

The financial supervisory authority Finanstilsynet FSA in connection with its Panama Papers investigation is asking eight banks for an explanation of activities that hint at their possible involvement in money laundering and tax evasion
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New I-T guidelines tightens screw on tax evaders

Indulgence in serious criminal cases of money laundering terror financing corruption possession of benami properties and undisclosed foreign assets will virtually shut a persons chances of getting relief in an income tax evasion offence beginning
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Centre unveils new draft bill to tighten screws on economic offenders

NEW DELHI In order to plug loopholes and lay down measures to deter economic offenders from evading the process of Indian law by remaining outside the jurisdiction of Indian courts the government under Prevention of Money Laundering Act to declare
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Govt tightens anti-money laundering laws widens ambit of proceeds of crime

The government has tightened the anti-money laundering laws by expanding the ambit of the proceeds of crime which now includes properties and assets created through any criminal activity even if it is not under the Prevention of Money Laundering Act
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Government tightens screws on NGOs

Government is tightening requirements for registration of non-governmental organisations NGOs to ostensibly prevent money-laundering and funding of terrorist activities Briefing journalists at a post-Cabinet meeting yesterday acting Information and
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Government makes anti-money laundering law stricter by widening definition of proceeds of crime

NEW DELHI Tightening the anti money-laundering law the government on Thursday widened the definition of proceeds of crime stating that a property will be considered as tainted if it relates to any offence on the basis of which a PMLA case has been slapped
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