Money Laundering

Regional News • Asia
India raids multiple Chinese entities over suspicion of money laundering

According to an official statement, multiple premises of Chinese entities have been raided by the tax authorities of India.

The Indian authorities are investigating suspected money laundering but did not specify which entities and individuals have been raided. Following the statement over 40 bank accounts in dummy entities have been created and entered into credits of over $134,03 million in the local currency rupees.

One of the checked Chinese companies has allegedly taken over $13,4 million from shell companies to open "retail showrooms" in India.

Technology • Internet & Web
New Zealand Police have frozen $90m from Russian IT expert

New Zealand Police has frozen $90 million from a New Zealand based company belonging to Alexander Vinnik who had been arrested in July 2017 while on a family vacation in Greece. The Russian IT expert has an open extradition warrant from the United States and France where the authorities accuse him of money laundering, identity theft, drug trafficking and computer hacking. The authorities also accuse him that he has operated BTC-e, a cryptocurrency exchange that allegedly enabled money-laundering. The Greek legal team of Vinnik denies that he ran the exchange and says he was an employee.