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ED crackdown on shell companies begins to prevent money laundering

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.
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