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Forex scam News

06 Mar 2016

Forex scam: CBI conducts fresh searches in Delhi, NCR

The CBI on Sunday carried out searches at 10 locations in Delhi and the National Capital Region (NCR) as part of its investigation into the alleged Rs.6,000 crore Bank of Baroda forex scam.

15 Feb 2016

Bank of Baroda forex scam: RBI finds irregularities in banks' transactions

Various irregularities by banks such as non-submission and inordinate delays in filing of Suspicious Transaction Reports (STRs), besides opening of accounts by several entities without fulfilling KYC norms, have been noticed by Reserve Bank of India.

Business News 2015

17 Dec 2015

Major financial frauds of 2015

Here are the major financial frauds that rattled the corporate world.

29 Oct 2015

Bank of Baroda scam: SFIO probes 10 companies

The Serious Fraud Investigation Office (SFIO) has started probing 10 companies in connection with the Rs 6,100-crore illicit money remittance case involving public lender Bank of Baroda.

25 Oct 2015

BoB forex scam effect: IBA mulls exempting experts from general banking work

In light of the Rs 6,100-crore Bank of Baroda (BoB) money remittance case, Indian Banks' Association (IBA) is considering a proposal to engage specialist officers only in their areas of core competencies rather than general banking business.

22 Oct 2015

CVC seeks report from CBI, BoB in Rs 6,100 crore forex scam

The CBI and ED are probing transactions of Rs 6,100 crore to Hong Kong from a Bank of Baroda's Ashok Vihar branch in Delhi which is believed to be trade-based money laundering as the amount was transferred in garb of payments for imports, that never took place.

21 Oct 2015

BoB forex scam incident not reflection of systemic problem: Sinha

The government Wednesday said the alleged Rs 6,100-crore Bank of Baroda black money remittance case is one off incidence and not a reflection of any systemic problem in the banking sector.

14 Oct 2015

Bank of Baroda scam: HDFC says fully cooperating with probe agency

HDFC Bank, whose one employee has been arrested in the alleged Bank of Baroda Rs 6,000-crore illegal remittances case, Wednesday said it is examining the matter internally and cooperating with investigation authorities.

14 Oct 2015

New Bank of Baroda Chairman Ravi Venkatesan meets Arun Jaitley

Amid allegations of irregularities against Bank of Baroda officials in the Rs 6,000 crore illegal remittances case, its newly appointed Chairman Ravi Venkatesan Wednesday called on Finance Minister Arun Jaitley.

13 Oct 2015

BoB case: ED gets four-day custody to quiz arrested persons

Enforcement Directorate (ED) was Tuesday allowed by a Delhi court to quiz in its custody four persons, including an HDFC bank employee, arrested on alleged money laundering charges in Rs 6,000 crore remittances case at a Bank of Baroda (BoB) branch here.

12 Oct 2015

Bank of Baroda shares slide over 3% at close

Shares of Bank of Baroda ended the day over 3 percent lower after the CBI carried out searches at three locations in New Delhi in connection with alleged Rs 6,100 crore remittances sent from BoB to Hong Kong camouflaged as payments for non-existent imports.

11 Oct 2015

Bank of Baroda Forex scam: CBI raids 50 more locations

11 Oct 2015

Bank of Baroda Forex scam: CBI conducts raids, questions suspects

CBI raided Bank of Baroda branches, offices, and started questioning some of the suspects in its probe into alleged black money transfer of Rs 6000 crore to Hong Kong.

11 Oct 2015

Hawala transactions are being done in many nationalised, foreign banks across country, alleges Congress

The Congress Party on Sunday alleged that many nationalised and foreign banks were also involved in the forex scam.

10 Oct 2015

Bank of Baroda's Ashok Vihar branch raided by CBI in forex scam

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