Indian banks involved in money laundering, facilitating terrorists: report

Paris: A report by an international bureau monitoring financial crimes have denounced India as facilitator of terrorists and involved in money laundering. According to details, a recent report by Financial Crimes Enforcement Network (FINCEN) has exposed the possible money laundering and terrorist financing from India.

The report revealed that 44 Indian banks are involved in money laundering including Punjab National Bank, Kotak Mahindra Bank, HDFC Bank, Canara Bank, Induslnd Bank and Bank of Baroda.

Indian banks laundered approximately 1.53 billion dollars through 3,201 illegal transactions, report added.

It is pertinent to mention here that a recent United Nations (UN) report identified the presence of terrorist groups in Kerala and Assam. 

GNN, 27 Sep, 2020

More Business & Finance News

USD TO PKR: Dollar Rate in Pakistan on October 21

View detail

Fiscal worries cloud recovery prospects for Latin America

View detail

Leading British landscape designer Aralia makes first entry to Pakistan

View detail

Hong Kong shares soar on consumer firms

View detail

Skilled manpower vital for socio-economic uplift: President

View detail

Disclaimer: All information on this page are taken from third party reliable sources of relevant industry channels, with simple aim just for general information for our users. Hamariweb never endorse or recommend for any trading advice as well as accuracy of data provided here.