Money Laundering Law
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Anti-Money Laundering Law Misused Like Dowry Law: Supreme Court
The PMLA (Prevention of Money Laundering Act) is being used repeatedly to keep people in jail, the Supreme Court said today. A bench pulling up the Enforcement Directorate, said the law is being misused like the dowry law.
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ByBit Pays Rs. 9.27 Crore Penalty, Completes FIU-IND Registration
ByBit has announced that it has completed its registration with India’s Financial Intelligence Unit (FIU), and paid a Rs. 9.27 crore penalty, as part of its compliance obligations. Earlier this month, the FIU-IND revealed that the Dubai-based exchange was not in compliance with India’s the Prevention of Money Laundering Act (PMLA) because of wh...
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Mumbai Woman, 77, Kept Under Digital Arrest For A Month, Defrauded Of Rs 3.8 Crore
A 77-year-old woman from Mumbai was kept under "digital arrest" for a month by cyber fraudsters who posed as law enforcement officials and made her transfer Rs 3.8 crore, claiming her Aadhaar card was used in a money laundering case.
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Probe Agency Attaches Land Worth Rs 335 Crore In Unitech Money Laundering Case
Fresh assets worth Rs 335 crore of the Unitech Group and a linked company have been attached under the anti-money laundering law, the Enforcement Directorate said Tuesday.
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UK Says 90 Percent Crypto Firms Applying for Licence Lacks Money Laundering, Fraud Precautions
A recent report by the UK Financial Conduct Authority (FCA) has said that they have rejected 90 percent of the registration applications of crypto firms in recent times. Inconsistencies with security measures against frauds and money laundering activities have emerged among top reasons for licence rejection.
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Money Laundering Charges Against Trinamool's Saket Gokhale: Probe Agency
A special PMLA court in Ahmedabad has framed criminal charges, under the anti-money laundering law, against TMC's Rajya Sabha MP Saket Gokhale on Tuesday, the Enforcement Directorate said.
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Binance Served Notice for Rs. 772 Crore in GST Charges by DGGI in India
Binance has been issued a notice for the payment of Rs. 772 crore in GST charges in India. In conversation with Gadgets360, an official said the notice issued to Binance should be seen by the exchange as an opportunity to present their front of the case and bring their business operations in alignment with India’s legal framework.
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South Korea Implements Legal Framework to Protect Crypto Community Against Financial Risks: All Details
South Korea has deployed a list of rules to be followed by crypto companies. This legal framework is aimed at controlling and eventually curbing the exploit of crypto assets for illicit activities like money laundering and terror financing.
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5 People From Jharkhand's Jamtara Convicted For Money Laundering
A special PMLA court in Ranchi on Saturday convicted five Jamtara residents under the anti-money laundering law for running an "organised" cyber crime syndicate, official sources said.
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Brazil to Unveil Second Phase of Crypto Rules by End of 2024: Report
Without disclosing too many details about the ‘internal planning’, Brazil’s Apex bank has confirmed that laws to monitor the use of stablecoins and the role they can play in foreign exchange settlements and other payments are in the pipeline this year.
-
Bharat Web3 Association Calls for Teamwork in Building Ironclad Anti-Money Laundering Laws
The Bharat Web3 Association (BWA) recently hosted its first ever training and awareness workshop on the Prevention of Money Laundering Act (PMLA). The aim of this meeting was to open dialogues on the steps that could prevent the misuse of cryptocurrencies for unlawful activities like money laundering and terror financing.
-
Binance Fined $4.4 Million in Canada for Violating Anti-Money Laundering Laws
Canada is the latest country that has taken action against crypto exchange Binance. The reason cited for the $ 4 million fine is Binance’s violation of Canada’s anti-money laundering rules while conducting its operations in 2023.
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Binance Crypto Exchange Founder Changpeng Zhao Sentenced to 4 Months in Prison
Changpeng Zhao, the former chief executive of Binance, was sentenced on Tuesday to four months in prison after pleading guilty to violating US laws against money laundering at the world's largest cryptocurrency exchange.
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US Seeks 3 Years Prison for Binance Founder Changpeng Zhao
US prosecutors want Changpeng Zhao, the founder and former chief executive of Binance, the world's largest cryptocurrency exchange, to serve three years in prison after he pleaded guilty to violating laws against money laundering.
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Different Laws Don't Apply To A Chief Minister: High Court On Arvind Kejriwal's Petition
The Delhi High Court will give its verdict today on a petition by Chief Minister Arvind Kejriwal challenging his arrest by the Enforcement Directorate in a money laundering case linked to the alleged liquor policy scam.
-
Anti-Money Laundering Law Misused Like Dowry Law: Supreme Court
The PMLA (Prevention of Money Laundering Act) is being used repeatedly to keep people in jail, the Supreme Court said today. A bench pulling up the Enforcement Directorate, said the law is being misused like the dowry law.
-
ByBit Pays Rs. 9.27 Crore Penalty, Completes FIU-IND Registration
ByBit has announced that it has completed its registration with India’s Financial Intelligence Unit (FIU), and paid a Rs. 9.27 crore penalty, as part of its compliance obligations. Earlier this month, the FIU-IND revealed that the Dubai-based exchange was not in compliance with India’s the Prevention of Money Laundering Act (PMLA) because of wh...
-
Mumbai Woman, 77, Kept Under Digital Arrest For A Month, Defrauded Of Rs 3.8 Crore
A 77-year-old woman from Mumbai was kept under "digital arrest" for a month by cyber fraudsters who posed as law enforcement officials and made her transfer Rs 3.8 crore, claiming her Aadhaar card was used in a money laundering case.
-
Probe Agency Attaches Land Worth Rs 335 Crore In Unitech Money Laundering Case
Fresh assets worth Rs 335 crore of the Unitech Group and a linked company have been attached under the anti-money laundering law, the Enforcement Directorate said Tuesday.
-
UK Says 90 Percent Crypto Firms Applying for Licence Lacks Money Laundering, Fraud Precautions
A recent report by the UK Financial Conduct Authority (FCA) has said that they have rejected 90 percent of the registration applications of crypto firms in recent times. Inconsistencies with security measures against frauds and money laundering activities have emerged among top reasons for licence rejection.
-
Money Laundering Charges Against Trinamool's Saket Gokhale: Probe Agency
A special PMLA court in Ahmedabad has framed criminal charges, under the anti-money laundering law, against TMC's Rajya Sabha MP Saket Gokhale on Tuesday, the Enforcement Directorate said.
-
Binance Served Notice for Rs. 772 Crore in GST Charges by DGGI in India
Binance has been issued a notice for the payment of Rs. 772 crore in GST charges in India. In conversation with Gadgets360, an official said the notice issued to Binance should be seen by the exchange as an opportunity to present their front of the case and bring their business operations in alignment with India’s legal framework.
-
South Korea Implements Legal Framework to Protect Crypto Community Against Financial Risks: All Details
South Korea has deployed a list of rules to be followed by crypto companies. This legal framework is aimed at controlling and eventually curbing the exploit of crypto assets for illicit activities like money laundering and terror financing.
-
5 People From Jharkhand's Jamtara Convicted For Money Laundering
A special PMLA court in Ranchi on Saturday convicted five Jamtara residents under the anti-money laundering law for running an "organised" cyber crime syndicate, official sources said.
-
Brazil to Unveil Second Phase of Crypto Rules by End of 2024: Report
Without disclosing too many details about the ‘internal planning’, Brazil’s Apex bank has confirmed that laws to monitor the use of stablecoins and the role they can play in foreign exchange settlements and other payments are in the pipeline this year.
-
Bharat Web3 Association Calls for Teamwork in Building Ironclad Anti-Money Laundering Laws
The Bharat Web3 Association (BWA) recently hosted its first ever training and awareness workshop on the Prevention of Money Laundering Act (PMLA). The aim of this meeting was to open dialogues on the steps that could prevent the misuse of cryptocurrencies for unlawful activities like money laundering and terror financing.
-
Binance Fined $4.4 Million in Canada for Violating Anti-Money Laundering Laws
Canada is the latest country that has taken action against crypto exchange Binance. The reason cited for the $ 4 million fine is Binance’s violation of Canada’s anti-money laundering rules while conducting its operations in 2023.
-
Binance Crypto Exchange Founder Changpeng Zhao Sentenced to 4 Months in Prison
Changpeng Zhao, the former chief executive of Binance, was sentenced on Tuesday to four months in prison after pleading guilty to violating US laws against money laundering at the world's largest cryptocurrency exchange.
-
US Seeks 3 Years Prison for Binance Founder Changpeng Zhao
US prosecutors want Changpeng Zhao, the founder and former chief executive of Binance, the world's largest cryptocurrency exchange, to serve three years in prison after he pleaded guilty to violating laws against money laundering.
-
Different Laws Don't Apply To A Chief Minister: High Court On Arvind Kejriwal's Petition
The Delhi High Court will give its verdict today on a petition by Chief Minister Arvind Kejriwal challenging his arrest by the Enforcement Directorate in a money laundering case linked to the alleged liquor policy scam.
