Indian banks involved in money laundering, facilitating terrorists: report
According to details, a recent report by Financial Crimes Enforcement Network (FINCEN) has exposed the possible money laundering and terrorist financing from India.
The report revealed that 44 Indian banks are involved in money laundering including Punjab National Bank, Kotak Mahindra Bank, HDFC Bank, Canara Bank, Induslnd Bank and Bank of Baroda.
Indian banks laundered approximately 1.53 billion dollars through 3,201 illegal transactions, report added.
It is pertinent to mention here that a recent United Nations (UN) report identified the presence of terrorist groups in Kerala and Assam.