ED crackdown on shell companies begins to prevent money laundering
Monday, April 10, 2017, 11:05 AM
Soon after the last date for depositing demonetized notes ended on March-31, central agencies started tracking dubious accounts and shell-companies that carry out high-valued transaction accounts. According to enforcement agencies, thousands of companies, which could be working as shell-companies for laundering-black-money, have come under the scanner. The crackdown by several enforcement agencies- IT, ED, SFIO, and ROC has begun to prevent money-laundering and tax-evasion.