please see if you are located in Europe or fo/choices if in the United States. There were heavy cash receipts also in newly opened accounts of some importers. These were advance remittances for imports. "It was observed that on many occasions, the party made 4/5 remittances in a single day to the same exporter and the total amount of all the remittances was more than 100,000. Subsequently, A-1 form in most of the cases was not signed by the branch head/ bank official and in many cases by the customer. The Congress spokesperson wondered why no FIR been filed in the case so far. Bank of, baroda officials and some private persons next week. Read also: Black money disclosure amount revised to Rs 4,147 crore. The revelation comes at a time when the Narendra Modi government is trying to ensure that black money does not flow abroad, and instead comes back into the country. NEW delhi: Bank of, baroda officials recently stumbled upon illegal transfers of a whopping Rs 6,172 crores in foreign exchange, made to Hong Kong through newly-opened accounts in the bank s Ashok Vihar branch.
Bank Of Baroda Forex Scam - Zee News
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Various irregularities by banks such as non-submission and inordinate delays in filing of, suspicious Transaction Reports (STRs besides opening of accounts by several entities without fulfilling KYC norms, have been noticed by Reserve.
The bank woke up to the scam when it found that the forex business of its Ashok Vihar branch shot up to.
Read More NEW delhi: Bank of Baroda officials recently stumbled upon illegal).