FinancialFraud Archives - Universal Group Of Institutions
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20Feb 2025

Maharashtra’s MPID Act Enables Quick Sale of Seized Assets

Why in the News? Mumbai Police’s Economic Offences Wing is auctioning ₹40 crore worth of assets under the Maharashtra Protection of Interest of Depositors (MPID) Act. This law facilitates swift asset seizure and distribution to victims of financial fraud, ensuring faster relief and justice. Recent Development Victims of the Torres Ponzi scam may receive around …

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01Oct 2024

ED’s Money Laundering Probes: Challenges and Insights Revealed

Why in the news? The Financial Action Task Force’s report highlights the Enforcement Directorate’s operations, revealing challenges in prosecution rates and the need for enhanced investigative capacity in India. Key Insights on ED’s Money Laundering Investigations: Investigation Sources and Trends: The Enforcement Directorate (ED) investigates money laundering based on various leads, with 47% of cases …

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