The term ‘money laundering’ is said to have originated from mafia ownership of Laundromats in the US. Gangsters there were earning huge sums in cash by extortion, prostitution, gambling and bootleg liquor. They needed to show a legitimate source for these monies. Money launderers now resort to the use of apparently legitimate commercial transactions to camouflage their laundering activities. There has been an increasing amount of interest of late in commodity...

Besieged as it is by a spate of scams, the Centre has revived the 40-year-old proposal of setting up a national ombudsman called the Lokpal to probe political corruption. But, far from overcoming the existing deficiencies, the latest draft Bill – which could be promulgated any time soon as an ordinance - provides a legal veneer to them so that crooked politicians will continue to enjoy almost as much impunity...

The Group of Ministers tasked to suggest ways to curb corruption in public life is weighing a constitutional amendment to fast-track the trials of officials indicted for graft. Sources said changes could be incorporated in Article 311 of the Constitution (dealing with dismissal, removal or demotion of government officials) to provide for summary proceedings in cases of grave misdemeanour or blatant corruption. Also under consideration are amendments to the Prevention of Corruption...

A CBI probe has indicted a former chairman of India’s technical education regulator for approving increased student intake by a private engineering college 10 years ago despite the institution lacking adequate infrastructure. The indictment of R. Natarajan comes days after the agency had nailed the now-suspended All India Council of Technical Education (AICTE) chairman, R.A. Yadav, in another corruption case. Natarajan was head of the AICTE when the regulator allowed the Chennai-based...

India's income tax department has ruled that illegal commissions were paid to an Italian businessman accused over an arms scandal which ended Rajiv Gandhi's term as prime minister 20 years ago. It found over $9m was paid as commissions to Ottavio Quattrocchi and an Indian arms dealer, Win Chadha. In 2009, India dropped a graft case against Mr Quattrocchi and withdrew his name from the Interpol "wanted list". The main opposition BJP has...