scorecardresearch
Tuesday, Oct 04, 2022

Axis bank-Noida: ED files money laundering case 

Officials added that the agency is probing more than two dozen accounts in the bank here which could have been used to perpetrate the crime of money laundering, in the wake of the scrapping of Rs 1000/500 notes.

axis bank, axis bank black money, axis bank IT raid, axis banks it department raid, axis bank black money into white, axis bank fake bank accounts, axis bank fake accounts black money, indian express, indian express news, trending, trending in india I-T department officials and policemen at the Axis Bank branch in Noida Sector-51. Express Photo by Gajendra Yadav

The Enforcement Directorate (ED) has registered a money laundering case in the alleged forging of a customer’s identity to conduct huge illegal transactions in an Axis Bank branch in Noida for conversion of black funds into white post demonetisation.

Watch What Else Is making News

The individual, identified as N Paswan, in his complaint filed with the police has claimed that his identity has been forged and a current and a savings account were opened in his name in the said branch which were allegedly used to launder crores of rupees post demonetisation.

Officials said the ED registered a criminal complaint under the provisions of the Prevention of Money Laundering Act (PMLA) taking cognisance of the police FIR on a complaint filed by Paswan, a resident of Delhi’s Pitampura area.

Subscriber Only Stories
Road to 2024: Modi, Shah, Nadda, all top hands on deck for poll pushPremium
India has a $1.2 trillion plan to snatch factories from ChinaPremium
UPSC Essentials: Key terms of the past week with MCQsPremium
Express Investigation: In groundwater near a Delhi landfill, heavy metals...Premium

They said while the bank branch, in sector 51 of Noida, is already under scanner by the Income Tax department owing to alleged dubious transactions using shell companies, the ED has come into picture to probe proceeds of crime which were generated through use of various fake accounts which also have “fake or weak” KYC (Know your customer) details.

They said the amount under scanner of the central probe agency is over Rs 60 crore. Officials added that the agency is probing more than two dozen accounts in the bank here which could have been used to perpetrate the crime of money laundering, in the wake of the scrapping of Rs 1000/500 notes.

Meanwhile, the ED also conducted searches on the premises of four bullion traders in Mumbai yesterday in a similar probe. The agency has also sought freezing of few bank accounts of these traders as part of its probe, they said.

First published on: 17-12-2016 at 05:01:44 pm
Next Story

Seoul: Supporters of impeached South Korean leader clash with protesters

Latest Comment
Post Comment
Read Comments
Advertisement
Advertisement
Advertisement
Advertisement