https://www.taxtmi.com/news?id=47697 CBI inquiry found a large mule-account laundering network across over seven hundred bank branches, with accounts opened using falsified IDs and used to siphon victim funds. The agency identified alleged involvement of middlemen, agents, banking correspondents and some bank officials, and documented failures in Know Your Customer procedures, customer due diligence, risk assessment and adherence to RBI and internal guidelines. Coordinated searches, seizures and arrests followed, and an FIR was filed alleging criminal conspiracy, cheating, forgery and criminal misconduct under the Prevention of Corruption Act. en-us Thu, 26 Jun 2025 19:16:03 +0530 Thu, 26 Jun 2025 19:16:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=47697 CBI inquiry found a large mule-account laundering network across over seven hundred bank branches, with accounts opened using falsified IDs and used to siphon victim funds. The agency identified alleged involvement of middlemen, agents, banking correspondents and some bank officials, and documented failures in Know Your Customer procedures, customer due diligence, risk assessment and adherence to RBI and internal guidelines. Coordinated searches, seizures and arrests followed, and an FIR was filed alleging criminal conspiracy, cheating, forgery and criminal misconduct under the Prevention of Corruption Act. News - Thu, 26 Jun 2025 19:16:03 +0530 https://www.taxtmi.com/news?id=47697