Corporate crime Current Affairs, GK & News
Pakistan blacklisted by Asia-Pacific Group of FATF for its failure to comply with terror funding standards
The Asia-Pacific Group (APG) of the Financial Action Task Force (FATF) is a global watchdog for terror financing and money laundering. It has recently put Pakistan in the Enhanced Expedited Follow Up List (Blacklist) for its failure to meet its standards. The APG has also found that Pakistan was non-compliant on 32 of the 40 ..
Saudi Arabia has become the first Arab country to be granted full membership of Financial Action Task Force (FATF) following its Annual General Meeting at Orlando in Florida, USA. Since November 2004, Saudi Arabia has been a founding member of the Middle East and North Africa (MENA) arm of the FATF group. Its full FATF ..
Topics: Asia/Pacific Group on Money Laundering • Corporate crime • Crime • FATF blacklist • Financial Action Task Force on Money Laundering • Financial regulation • Money Laundering • OECD • Organizations • Task forces • Tax Evasion • Terrorism financing
IDBI Bank has launched the ‘NRI-Insta-Online’ account-opening process for Non-Resident Indians (NRIs) residing in Financial Action Task Force (FATF) member countries. The person will not be required to furnish physical documents and KYC proofs for opening an account with the bank. NRIs will now be able to open account in IDBI Bank without submitting paper ..
Topics: Asia/Pacific Group on Money Laundering • Business law • Corporate crime • Crime • Financial Action Task Force on Money Laundering • Financial regulation • IDBI Bank • Money Laundering • OECD • Politically exposed person • Tax Evasion • Terrorism financing
Pakistan Foreign Minister Shah Mahmood Qureshi said that Pakistan could be blacklisted by the Financial Action Task Force because of ‘lobbying by India’ after estimating that the country could suffer $10 billion loss annually if it remains in the watchdog’s grey list. Last year the Paris-based FATF had placed Pakistan on the ‘grey list’ of ..
Topics: Business law • Corporate crime • Crime • FATF blacklist • Financial Action Task Force on Money Laundering • Financial regulation • Money Laundering • OECD • Organisation for Economic Co-operation and Development controversy • Pakistan • Tax Evasion • Terrorism financing
The Enforcement Directorate has said that consortium of banks which is led by the State Bank of India, have recovered over one thousand crore rupees from the sale of shares of fugitive offender Vijay Mallya. The amount was recovered by Bangalore based Debt Recovery Tribunal by the sale of over 74 lakh shares held by Mallya ..
Delhi court has issued an order of the attachment of fugitive Vijay Mallya’s properties in Bengaluru in a case relating to FERA, Foreign Exchange Management Act violations by 10th July, next date of hearing. The court has declared Mallya a proclaimed offender for evading summons in a violation case after noting that he had ..