Money Laundering Current Affairs, GK & News

Supreme Court Verdict on Demonetisation Case

The Supreme Court of India has upheld the 2016 decision of the Narendra Modi government to demonetize currency notes of INR 500 and INR 1,000 denominations. The decision, which was taken by a 4:1 majority of the Constitution Bench, stated that the central government’s notification of November 8, 2016 was valid and met the test ..

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ED Money-laundering probe into Vivo

On July 8, 2022 the Delhi High Court asked the Enforcement Directorate to consider Vivo to allow it to unfreeze some of its bank accounts, in order to pay for its liabilities. Highlights Justice Yashwant Varma has asked the enforcement directorate to respond on plea filed by vivo, seeking to unfreeze its accounts. Vivo filed this plea as company ..

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T Raja Kumar: President of Financial Action Task Force (FATF)

T. Raja Kumar of Singapore was recently appointed as the president of anti-money laundering watchdog, Financial Action Task Force(FATF). Highlights Raja Kumar has replaced Marcus Pleyer. He will discharge his service for next two years. He will focus on: Improving asset recovery Enhancing the effectiveness of global anti-money laundering & counter-terrorist financing measures. He has ..

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UAE in FATF Grey List

On 4th March 2022, Financial Action Task Force (FATF) has included United Arab Emirates (UAE) in its grey list. About FATF FATF is an inter-governmental body established by the G7 countries in 1989. It is mainly a policy-making body and its mandate is to promote reforms in a country’s financial system to combat money-laundering and ..

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FATF: Pakistan to remain on “Grey List”

On October 24, 2020, the Financial Action Task Force voted for Pakistan to remain under “grey list” of the organisation. The decision was taken as Pakistan failed to comply with all the 27 parameters set by the FATF. It has completed only 21. Earlier, the asia-pacific group of FATF submitted a report titled “Follow up ..

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China moves against Pakistan in FATF, Turkey now the only supporter

China has joined India and United States in putting Pakistan on Grey list of the FATF (Financial Action Task Force). Both China and Saudi Arabia have joined US, India and other European countries sending stern messages to Pakistan against its actions of terror funding money laundering Highlights A Plenary session of the FATF is to ..

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