Saudi Arabia becomes first Arab country to get FATF membership

Saudi Arabia has become the first Arab country to be granted full membership of Financial Action Task Force (FATF) following its Annual General Meeting at Orlando in Florida, USA. Since November 2004, Saudi Arabia has been a founding member of ..

IDBI Bank launches paperless account opening facility for NRIs

IDBI Bank has launched the ‘NRI-Insta-Online’ account-opening process for Non-Resident Indians (NRIs) residing in Financial Action Task Force (FATF) member countries. The person will not be required to furnish physical documents and KYC proofs for opening an account with the ..

Rationalizing Modal Code of Conduct (MMC)

MMC are set of guidelines issued by the Election Commission of India for political parties and candidates to religiously abide by the set of rules provided in the form of blue print during elections mainly with respect to speeches, polling ..

Pakistan could be blacklisted by FATF

Pakistan Foreign Minister Shah Mahmood Qureshi said that Pakistan could be blacklisted by the Financial Action Task Force because of ‘lobbying by India’ after estimating that the country could suffer $10 billion loss annually if it remains in the watchdog’s ..

Australia sanctions Law to punish social media executives for violent posts

Australia’s parliament has passed a legislation to imprison executives of social media if their platforms shows real violence such as the New Zealand mosque shootings. Restrictive laws about online communication in the democratic world could lead to unpredictable results like ..

Delhi Court reserves Order on Robert Vadra anticipatory Bail plea

Delhi court has reserved an order on Robert Vadra’s anticipatory bail plea for 1st April. Further, his interim protection from arrest till then in a money laundering case will be extended. Vadra was granted interim protection from arrest by the ..

FATF Decides to Keep Pakistan in Grey List

International terror financing watchdog, the Financial Action Task Force (FATF) has decided to keep Pakistan on its grey list, despite India’s push to blacklist it in the aftermath of Pulwama terror attack. The decision was recently taken at the end ..

Vijay Mallya becomes first Indian business tycoon to be named “Fugitive Economic Offender (FEO)”

Former liquor baron Vijay Mallya has become the first Indian businessman to be declared a Fugitive Economic Offender (FEO) under the newly enacted Fugitive Economic Offenders Act of 2018 by the Special Prevention of Money Laundering Act (PMLA) court in ..