Major pvt banks accused of money laundering
BY Agencies15 March 2013 1:16 AM GMT
Agencies15 March 2013 1:16 AM GMT
The country’s three largest private banks were on Thursday accused of indulging in money laundering both within and outside with an online portal claiming that a sting operation conducted by it has revealed a scam.
The portal Cobrapost played the contents of purported video recording of officials of HDFC, ICICI and Axis bank allegedly agreeing to receive unverified sums of cash and put them in their investment schemes and benami accounts in violation of anti-money laundering laws.
The footage taken in ‘Operation Red Spider’, purportedly shows a number of senior executives of the three banks verbally agreeing to take huge amounts of cash from the undercover reporter and putting them into a variety of long-term investment plans so that the black money ultimately is converted into white.
However, no account was opened nor any cash deposited in these banks.
Addressing a press conference, Cobrapost Editor Aniruddha Bahal said that ‘Indian banks are behaving as Switzerland banks now. Our reporter gave calls to numerous branches of these banks spread across the country and they were ready to accept cash in clear violation of the Know Your Customer norms.’
The portal Cobrapost played the contents of purported video recording of officials of HDFC, ICICI and Axis bank allegedly agreeing to receive unverified sums of cash and put them in their investment schemes and benami accounts in violation of anti-money laundering laws.
The footage taken in ‘Operation Red Spider’, purportedly shows a number of senior executives of the three banks verbally agreeing to take huge amounts of cash from the undercover reporter and putting them into a variety of long-term investment plans so that the black money ultimately is converted into white.
However, no account was opened nor any cash deposited in these banks.
Addressing a press conference, Cobrapost Editor Aniruddha Bahal said that ‘Indian banks are behaving as Switzerland banks now. Our reporter gave calls to numerous branches of these banks spread across the country and they were ready to accept cash in clear violation of the Know Your Customer norms.’
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