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Illicit funds News

17 Aug 2017

Crackdown on shell companies: Sebi to take stock next month

As a multi-agency probe continues to check the black money menace, regulator Sebi will update its board next month on actions being taken against suspected shell companies -- listed as well as unlisted ones -- abetting alleged routing of illicit funds through stock markets.

25 Mar 2017

China captures 2,566 fugitives abroad in anti-graft campaign

China has captured 2,566 fugitives, a number of them from the ruling Communist Party, who had fled to other countries and recovered USD 125 million of illicit funds from 2014 to 2016.

India-Switzerland tax

10 Dec 2015

India, Switzerland improve cooperation on tax matters

With India stepping up efforts to bring back illicit funds stashed abroad, Switzerland has said both sides have improved their cooperation on tax matters following several high-level meetings.

03 Nov 2015

Black money: HSBC whistleblower making 'wrong hue and cry', says India

Finance Minister Arun Jaitley emphasised that the government would "take action" on the illicit fund menace and said government offered a reward in exchange for information to Falciani.

27 Aug 2015

Black money: Now, rich Godmen under SIT scanner

The SIT on black money will closely monitor the source of wealth and its utilization by the Indian Godmen.

07 Aug 2015

Sebi board to discuss SIT suggestions on black money fight

As it continues its fight against suspected illicit funds being routed through stock markets, Sebi has initiated an internal study of suggestions made by the Supreme Court-appointed SIT on black money and the matter would be discussed by the regulator's board later this month.

23 Jun 2015

Address factors that generate black money: CEA

Speaking about inflation, Subramanian said one solution to curb price rise could be to encourage people to keep their money in banks and not spend too much.

18 Jun 2015

Swiss banks' profit rises; staff count down

Under glare for being an alleged safe haven for illicit funds from across the world, Swiss banks saw their profits rise during 2014 to close to 19.5 billion Swiss francs even as their staff count declined in the year.

18 Jun 2015

Swiss banks' profit rises; staff count down

Under glare for being an alleged safe haven for illicit funds from across the world, Swiss banks saw their profits rise during 2014 to close to 19.5 billion Swiss francs even as their staff count declined in the year.

21 May 2015

Black money: Dossier on 15 entities with government

The Supreme Court constituted Special Investigation Team (SIT) on black money has received a new dossier on tax related business information on about 15 entities which have allegedly stashed illicit money abroad.

03 May 2015

Firms garner Rs 2 lakh crore in illicit funds; watchdogs up vigil

As many as 500 cases have come under the scanner of revenue intelligence agencies and capital markets regulator SEBI for raising a whopping Rs 2 lakh crore illegally in the guise of non-convertible debentures and private placements.

Market regulator

21 Mar 2015

Sebi ups crackdown; busts illicit fund-raising of Rs 13,000 cr

Stepping up its crackdown against illicit fund-raising activities in a big way, Sebi has busted more than 150 cases of frauds against gullible investors involving close to Rs 13,000 crore in the current fiscal.

25 Nov 2014

Nobody knows how much black money is stashed abroad: Rajan

Stating that nobody knows the exact amount of black money stashed away in overseas tax havens, RBI Governor Raghuram Rajan Tuesday said lower income tax rates will help curb generation of such illicit funds.

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