Money Laundering: South Asia - Revision history

Jyoti at 22:26, 28 May 2018

2018-05-28T22:26:12Z

Jyoti: /* Basel Institute’s explanatory notes */

2017-11-24T07:17:58Z

‎Basel Institute’s explanatory notes

Pdewan: /* Basel Anti-Money Laundering (AML) Index */

2017-09-08T15:39:14Z

‎Basel Anti-Money Laundering (AML) Index

Pdewan: Created page with "{| class="wikitable" |- |colspan="0"|
This is a collection of articles archived for the excellence of their content.
Additional information ma..."

2017-09-08T15:26:48Z

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[[Category: Afghanistan |M]]

[[Category: Bangladesh |M]]

[[Category: India |M ]]

[[Category: Myanmar | M]]

[[Category: Nepal |M]]

[[Category: Pakistan |M]]

[[Category: Sri Lanka |M]]

[[Category: Crime|M]]

[[Category: Economy-Industry-Resources |M]]

=Basel Anti-Money Laundering (AML) Index=
==2017==
[https://index.baselgovernance.org/sites/index/documents/Basel_AML_Index_Report_2017.pdf Basel AML Index Scores and World Rankings (from highest to lowest risk)]

1 Iran 8.60 (highest risk)

2 Afghanistan 8.38

13 Myanmar 7.58

14 Nepal 7.57

25 Sri Lanka 7.15

46 Pakistan 6.64

51 China 6.53

82 Bangladesh 5.79

88 India 5.58 (lowest risk in the South Asia-China region)

145 Lithuania 3.67

146 Finland 3. (lowest risk)

Bhutan and the Maldives were not ranked

← Older revision		Revision as of 07:17, 24 November 2017
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	Among the six South Asian countries, Afghanistan, Nepal and Sri Lanka stand out with particular highrisk		Among the six South Asian countries, Afghanistan, Nepal and Sri Lanka stand out with particular highrisk
	scores in the Basel AML Index.		scores in the Basel AML Index.
		+
		+	==2017: The top Money laundering entities==
		+	[http://epaper.timesgroup.com/Olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIDEL%2F2017%2F11%2F23&entity=Ar01203&sk=BC13834A&mode=text Pradeep Thakur, November 23, 2017: ''The Times of India'']
		+
		+	[[File: Top money laundering entities, 2017.jpg\|Top money laundering entities, 2017 <br/> From: [http://epaper.timesgroup.com/Olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIDEL%2F2017%2F11%2F23&entity=Ar01203&sk=BC13834A&mode=text Pradeep Thakur, November 23, 2017: ''The Times of India'']\|frame\|500px]]
		+
		+	The Enforcement Directorate has drawn up a list of top money launderers and the shell companies used by them to transact unaccounted money. The list includes some top politicians of the country.
		+
		+	Topping the list is one Afroz Mohammed Hasanfatta and Madanlal Jain of Surat who remitted money to Dubai and Hong Kong through forged bills of entry. Together the duo allegedly laundered Rs 5,400 crore through 30 shell companies.
		+
		+	NKS Holdings Pvt Ltd of Delhi is second on the list and allegedly laundered Rs 3,790 crore using 95 shell companies, followed by the accused in the Bank of Baroda case in Delhi where 115 shell companies were used to launder Rs 3,600 crore and remittances sent abroad. The operators of NKS Holdings accepted black money of “clients” and converted them into share premium through shell companies to make them look like legitimate business transactions.
		+
		+	The politicians in the list include Jagan Mohan Reddy of YSR Congress who is accused by the agency of laundering at least Rs 368 crore through 31 shell companies linked to him and his associates. The other prominent politician is Chhagan Bhujbal, NCP leader and former deputy CM of Maharashtra, who is being investigated for allegedly laundering Rs 200 crore using 81shell companies.
		+
		+	Rajeshwar Exports of Mumbai had the highest number of 312 shell companies which laundered Rs 1,500 crore. Jaipur, Jalandhar, Raipur, Hyderabad, Chennai and Panaji were among the cities where entities engaged in laundering in a big way. The ED tracked about 1,000 shell companies recently involved in such activities, some of which were linked to terror funding.
		+
		+	“These shell companies were used to conceal the nature, origin and destination of misappropriated funds by concealing the beneficiary and the proceeds of crime generated out of corruption,” a senior ED official said.
		+
		+	Shell companies are those which have no real business activity and are merely registered to launder unaccounted and illegal money earned by businessmen, corrupt bureaucrats and politicians. Some of this laundered money is allegedly proceeds of crime through illegal activity like bullion smuggling, narcotics trade or terror activity.
		+
		+	An IAS officer, Babulal Agarwal, also figured on the list. Agarwal, former Chhattisgarh principal secretary, is accused of laundering Rs 60 crore through at least 13 shell companies.

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-[[Category: Afghanistan |M]]
+[[Category: Afghanistan |M ]]
-[[Category: Bangladesh |M]]
+[[Category: Bangladesh |M ]]
 [[Category: India |M ]]
-[[Category: Myanmar | M]]
+[[Category: Myanmar |M ]]
-[[Category: Nepal |M]]
+[[Category: Nepal |M ]]
-[[Category: Pakistan |M]]
+[[Category: Pakistan |M ]]
-[[Category: Sri Lanka |M]]
+[[Category: Sri Lanka |M ]]
-[[Category: Crime|M]]
+[[Category: Crime |M ]]
-[[Category: Economy-Industry-Resources |M]]
+[[Category: Economy-Industry-Resources |M ]]
 =Basel Anti-Money Laundering (AML) Index=

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 =Basel Anti-Money Laundering (AML) Index=
-==2017==
+==About the Basel AML Index==
 [https://index.baselgovernance.org/sites/index/documents/Basel_AML_Index_Report_2017.pdf   Basel AML Index  Scores and World Rankings (from highest to lowest risk)]
@@ Line 51: / Line 63: @@
 Bhutan and the Maldives were not ranked

Money Laundering: South Asia - Revision history

Jyoti at 22:26, 28 May 2018

Jyoti: /* Basel Institute’s explanatory notes */

Pdewan: /* Basel Anti-Money Laundering (AML) Index */

Pdewan: Created page with "{| class="wikitable" |- |colspan="0"| This is a collection of articles archived for the excellence of their content. Additional information ma..."

Pdewan: Created page with "{| class="wikitable" |- |colspan="0"|
This is a collection of articles archived for the excellence of their content.
Additional information ma..."