ANTI MONEY LAUNDERING
Andaman co-operative bank 'fraud' case: ED attaches semi-submarine tourist vessels, other assets
A fresh prosecution complaint (chargesheet) was also filed in the case on November 6 before a special Prevention of Money Laundering Act court located in Port Blair. A provisional order was issued under the PMLA on November 5 attaching a total of 35 immovable and five movable properties, the agency said in a statement. The total value of these assets is Rs 121.35 crore, the agency said.
Red Fort blast: Al-Falah University now functioning under Haryana govt; tight security on campus
After the November 2025 Red Fort blast, Al-Falah University came under government control due to serious investigations. All 200 MBBS seats were filled this admission cycle under a transparent process overseen by authorities. A strict verification process for faculty and students has been implemented to ensure security on campus. Investigations into prior faculty members and staff were conducted due to alleged terrorist affiliations.
"Fabricated, malicious attacks": India rejects US court order involving officials in Sikh separatist Pannun case
India's Ministry of External Affairs has rejected a lawsuit against its officials filed by Sikh separatist Gurpatwant Singh Pannun. The US court allowed Pannun to pursue service of summons on Indian officials through local courts. Pannun's claims involve alleged assassination plots that remain unproven in civil proceedings. Indian officials firmly deny involvement in these allegations and emphasize legal document protocols.
NRIs can now complete online KYC from the US, UK, UAE and other FATF-compliant countries
For Indian investors residing overseas, a new development brings good news. A recent circular from Sebi allows them to open investment accounts without needing to return to India. By permitting digital KYC submissions from various compliant countries, this initiative simplifies the process for non-resident Indians (NRIs) and overseas citizens of India (OCIs).
US Treasury sanctions Canadian money services firms over Iran-related transactions
US Treasury imposed financial sanctions on eight Canadian money services firms involved with sanctioned Iranian entities. The sanctions block access to dollar-based financial systems and prohibit transactions with US persons. Secretary of the Treasury Scott Bessent stated that Canada cannot provide safe havens for illicit financial facilitators. Additionally, MEXC Global, a virtual currency exchanger, was cut off from the US financial system.
Cybercrime networks shift to smaller, mobile scam operations amid enforcement pressure: FATF
In its report released from Paris, the global money-laundering watchdog said large, fortified compounds where cyber slaves were forced to commit financial cybercrimes are being moved to apartments, houses, hotels and office floors, sometimes rebranding as legitimate outsourcing or marketing firms.
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Cybercrime networks shift to smaller, mobile scam operations amid enforcement pressure: FATF
In its report released from Paris, the global money-laundering watchdog said large, fortified compounds where cyber slaves were forced to commit financial cybercrimes are being moved to apartments, houses, hotels and office floors, sometimes rebranding as legitimate outsourcing or marketing firms.
Ghaziabad court sends Samajwadi Party's Azam Khan to 14-day judicial custody
Senior Samajwadi Party leader Azam Khan was sent to judicial custody for 14 days in a money laundering case. Khan was arrested by the Enforcement Directorate shortly after being released on bail from Rampur Jail. The case involves allegations of diverting government funds intended for public works to construct a private university. His assets, valued at Rs 1,170 crore, were attached as part of the investigation.
ED arrests senior Samajwadi Party leader Azam Khan minutes after release from Rampur Jail
Azam Khan, a senior leader of the Samajwadi Party, was arrested by the Enforcement Directorate shortly after his bail. His bail was granted by the Allahabad High Court in an alleged dual PAN card case. The Enforcement Directorate is investigating financial irregularities linked to the Maulana Mohammad Ali Jauhar Trust and Mohammad Ali Jauhar University. Khan's land and buildings were provisionally attached under anti-money laundering laws by the agency.
Own property in UAE? Income Tax Department nudges taxpayers to declare undisclosed assets under FAST-DS 2026, know who needs to act and what they can do
UAE property owners have received communication from the income tax department regarding undisclosed assets. Taxpayers are prompted to assess their foreign assets in relation to their tax status. Those eligible can use the FAST-DS 2026 scheme before the deadline. Failure to disclose such assets may result in severe penalties or taxation. It is important to review and act upon this nudge to avoid repercussions.
Mochatrade raises $5.5 million to bring US stock trading closer to Indian traders
Mochatrade has raised $5.5 million in funding to enhance its trading platform for Indian users. The platform allows users to trade US stocks without needing a US brokerage account. It also permits Indian traders to manage funds in rupees, simplifying the entire trading experience. Future plans include introducing contracts linked to pre-IPO companies and other features.
CMRL-Exalogic case: ED cites notebook seized from residence of Pinarayi Vijayan's daughter
The notebook was seized on May 27, 2026, from the residence of T Veena, daughter of former Kerala chief minister Pinarayi Vijayan, in the CMRL-Exalogic alleged money laundering case. One page records a "total deposit" of AED 2,82,600 and a transfer of AED 1,46,600 to Faijaz VP, whom ED describes as a UAE-based associate.
How five Boeing 777s linked Madagascar's power elite to Iran
Mamy Ravatomanga, a former influential entrepreneur in Madagascar, is under scrutiny due to serious corruption charges surfacing during his trial. He faces allegations of money laundering and influence peddling tied to the irregular registration of Boeing 777 aircraft, suspected to be misregistered for transit to Iran. His lawyers challenge the accusations, pointing to discrepancies in witness statements, drawing global interest and involving agencies like the FBI.
I-T likely to send notices over undisclosed foreign property
The Income-Tax Department will send notices to resident Indians regarding undisclosed foreign properties. Information was obtained through spontaneous exchanges and prior investigations into overseas assets. The FAST-DS scheme allows individuals to voluntarily disclose properties without facing penalties or prosecution. This opportunity aims to regularize the foreign assets of small taxpayers effectively. Overall participation in the scheme has been lower than anticipated due to its limitations.
SC stays CMRL-Exalogic probe against Pinarayi Vijayan, daughter for a week
The Supreme Court has stayed the investigation into corruption FIRs against Pinarayi Vijayan, Veena T, and PA Mohammed Riyas. They are allowed to challenge a Kerala High Court order that prompted the registration of these FIRs. The court clarified that its observations do not reflect any opinion on the merits of the cases. It also expressed concern regarding the urgency with which the matter was taken to the high court.
CMRL bribery case: SC stays for a week probe against former Keralam CM Pinarayi Vijayan, others
The Supreme Court issued a one-week stay on the investigation involving former Keralam chief minister Pinarayi Vijayan and his family. This stay allows Vijayan and his family to appeal against a recent High Court order. The Kerala High Court had previously rejected their application to challenge the order directing the investigation. Allegations against them involve fraudulent payments made to Veena's company for IT consultancy services.
Bangladesh ex-air chief arrested in Qatar over corruption charges, investigators trace alleged wealth to Canada, Dubai
Bangladesh (Google Trends): Bangladesh’s former Air Chief Marshal Sheikh Abdul Hannan has been arrested in Qatar following corruption allegations involving unexplained assets worth over Tk 3.28 crore and suspicious bank transactions totalling Tk 27.63 crore. The probe also involves his wife, alleged offshore wealth and properties linked to their children in three countries.
SC to hear on Oct 21 Vijayan's plea in CMRL case, YSRCP petition on local body polls
On Wednesday, a special Supreme Court bench will hear two important pleas connected with ongoing issues. One plea is from the YSRCP claiming that violence in Andhra Pradesh hindered nominations for local elections. The other plea relates to former Keralam Chief Minister Pinarayi Vijayan facing allegations in a bribery case. The high court previously dismissed YSRCP's request to extend the nomination deadline due to safety concerns.
CMRL money laundering case: Enforcement Directorate summons Pinarayi Vijayan on October 23
The Enforcement Directorate (ED) summoned former Keralam chief minister Pinarayi Vijayan for questioning in a case of CMRL-linked money laundering. The summons were issued under the Prevention of Money Laundering Act (PMLA). The ED alleged that CMRL made fraudulent payments of Rs 2.78 crore to Vijayan's daughter Veena's now-defunct company, Exalogic Solutions, under the guise of IT consultancy service.
US Stock Market: Why have S&P 500, Dow Jones, Nasdaq suffered worst day since July at Wall Street?
US stock Market today: Much of Wall Street’s pain on Wednesday was due to drops for companies riding the AI frenzy to huge profit growth and stellar stock gains.
Safety of Indian seafarers, tankers raised in Doval's conversation with Iranian counterpart, says MEA
National Security Advisor Ajit Doval engaged in a phone conversation with Mohsen Rezaei regarding regional security concerns. They specifically addressed the safety and security of Indian seafarers and tankers in the Gulf. India condemned recent attacks on civilian infrastructure in Saudi Arabia, calling them unacceptable. Discussions regarding potential bilateral trade agreements with the United States were also highlighted.
Bank of Baroda shares drop 3% after NMC Healthcare founder BR Shetty files $15 bn lawsuit; lender issues clarification
Bank of Baroda shares fell over 3% to Rs 230.40 on Wednesday following reports that NMC Healthcare founder BR Shetty filed a $15 billion lawsuit against the lender in the Bombay High Court alleging fraud. Bank of Baroda clarified to exchanges that it has not yet been served.
Bank of Baroda to defend interests after UAE businessman Shetty files $15 bln suit
Bank of Baroda is contending with a $15 billion lawsuit filed by B.R. Shetty following NMC Health's collapse. Shetty alleges that bank officials facilitated fraudulent transactions and ignored anti-money laundering warnings. The bank is currently pursuing recovery proceedings against Shetty for significant outstanding dues. Bank of Baroda has stated that it has not been served with the lawsuit yet.
Amit Shah meets Nepal Home Minister Sudhan Gurung, discusses border security, crime
Amit Shah and Nepal's Home Minister Sudhan Gurung met to discuss enhancing bilateral cooperation. The meeting focused on issues such as border management, security cooperation, and disaster preparedness. Both leaders emphasized the importance of mutual respect and cooperation for regional peace. They reaffirmed commitments made during the First BIMSTEC Home Ministers' Meeting which stressed combating regional security threats.
US hits Bank of America with $1.2 billion fine, says it violated money laundering, sanctions laws
The US Treasury Department announced a $1.2 billion fine against Bank of America for violating anti-money laundering laws. This penalty marks the third-largest ever imposed by the department in its history. Alongside this fine, Bank of America settled for $11.6 million over sanctions violations related to various programs. The bank acknowledged willful violations of the Bank Secrecy Act, emphasizing its commitment to compliance.
NMC Healthcare founder BR Shetty files $15 billion lawsuit against Bank of Baroda
The suit, filed in the Bombay High Court, seeks $5 billion in direct damages for alleged fraud and negligence, $5 billion in consequential damages and $5 billion in compensation for reputational harm arising from various actions taken by the bank, including a lookout circular issued against him.
BIMSTEC approves Delhi Declaration with focus on combating cross-border terror, other issues
The declaration, approved during the first meeting of BIMSTEC home ministers here, outlines principles guiding security cooperation and prioritises information sharing, mutual legal assistance, extradition, capacity building, and the effective implementation of existing agreements and plans of action, a government statement said.
ED arrests two in trans-national narcotics syndicate operated by Salim Ismail Dola
The Enforcement Directorate (ED) has arrested two people in a money laundering investigation linked to the transnational drug trafficking syndicate allegedly operated by Salim Ismail Dola, who was brought back to India from Turkiye in April. The agency alleged that the accused were involved in the clandestine manufacture of mephedrone, procurement of precursor chemicals and laundering of drug proceeds through hawala channels and multiple bank accounts. Earlier searches across four cities led to the seizure and freezing of assets worth Rs 1.33 crore, along with USD 2,200.
American Express fined $350 million over anti-money laundering compliance failures
American Express received a fine of $350 million due to failures in their anti-money laundering compliance programs. The US Office of the Comptroller of the Currency and the Federal Reserve announced this enforcement action. The company reportedly failed to identify and report suspicious activities, amounting to roughly $13 billion over the past decade. Specifically, their customer due diligence practices and identification measures were deemed inadequate.
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