ICICI Bank, AXIS Bank and HDFC Bank involved in money laundering

A sting operation by  an organization called Cobrapost has revealed that three Banks namely ICICI Bank, Axis Bank and HDFC Bank are involved in systematic money laundering operations.

What is important now is not to just close this incident as an aberration. If it has been the policy of the bank to commit money laundering offences, the CEOs of these Banks must be made answerable.

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In a release sent to the media,  Cobrapost alleged that these money laundering practices are part of a standard set of procedures within these banks. 

* These money laundering services are being openly offered to even walk-in customers who wish to launder their illicit money;
* A variety of options for laundering ill-gotten cash are being offered brazenly;
* These money laundering services are being offered practically as a standard product across the country.”

More information at cobrapost.com


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About Vijayashankar Na

Naavi is a veteran Cyber Law specialist in India and is presently working from Bangalore as an Information Assurance Consultant. Pioneered concepts such as ITA 2008 compliance, Naavi is also the founder of Cyber Law College, a virtual Cyber Law Education institution. He now has been focusing on the projects such as Secure Digital India and Cyber Insurance
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