-The Hindu Attaches Swiss bank accounts of City Limouzines Group, says the case will help other international investigations For the first time, the Enforcement Directorate (ED) has been able to convince Switzerland to give it access to attach the accounts of an Indian company, City Limouzines, under the Prevention of Money Laundering Act (PMLA). The company was allegedly involved in running a racket of ponzi schemes in various cities and has stashed...

-PTI The Enforcement Directorate has questioned former Telecom Minister A Raja in connection with its money laundering probe in the 2G spectrum case. This is the first time that the ED has questioned Raja in the case. During questioning, ED investigators grilled Raja on various issues related to spectrum allocation under his ministership and also about his personal finances, sources said. Raja, according to sources, was also questioned about his Ministry associates and their...

Move could save banks significant money spent on record-checking and documentation In what could usher in an era of paper-less, real-time authentication, the finance ministry is looking into allowing online Aadhaar authentication as a valid proof of identity for opening bank accounts. The ministry is considering an amendment to the Prevention of Money Laundering Act, or PMLA, to recognize online Aadhaar data to satisfy know-your-customer (KYC) requirements. This will pave the way for...

-PTI Senior IAS officers Pradeep Vyas and Jairaj Phatak have been placed under suspension pending investigation in the Adarsh Housing Society scam, Maharashtra government informed the Bombay high court on Thursday. While Vyas was the collector of Mumbai, Phatak was city municipal commissioner when the scam took place. According to the CBI, Vyas (49), during his tenure as Collector from August 2002 to May 2005, allegedly connived with other accused and...

-The Times of India The Enforcement Directorate has issued notices to two former executives of the UBS Switzerland to appear for evidence recording at Mumbai in the Hassan Ali money laundering case. The former executives are believed to have helped the Pune-based businessman Ali in his money laundering allegedly estimated at more than $8 billion. The income Tax had also served Ali with notices in the same case for recovery of Rs...