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ED Sends Notices to 50 NRIs Over “Fishy” Bank Transactions
March 14, 2018
According to a report by a national daily, the Enforcement Directorate (ED) has sent notices to around 50 NRIs recently for their potential involvement in frauds indicated by irregular transfers of funds, etc.
An official from the ED said that in the respective cases, instances of remittances higher than permissible amounts, unknown sources of earnings, suspicious investments in lands, etc. have been identified.
The notices were sent over a course of 3 months under the Prevention of Money Laundering Act.
