Income Tax Department, Enforcement Directorate, Fraud Investigating Unit and Revenue Intelligence Agencies has carried out sting operations at 500 bank branches after November 8th this year. A detailed report which include 400 CDs was submitted to PMO.
The sting operation was done at bank branches where thousands of crores worth banned Rs 500 and Rs 1000 notes were deposited. Enforcement Directorate is going to press money laundering charges against those Bank Officials and Individuals indulging in the financial crimes.
Majority of the sting operations were done at bank branches in metropolitan cities in the country. PMO is thoroughly checking the CDs to take further action against the fraudsters and tax evaders.
Income Tax sleuths continue to raid the properties of businessman and government officials depending the information gathered from agents exchanging old notes on commission basis. Recently, IT Officials used three innova cars to shift Rs 14 crore unaccounted currency in New Delhi after conducting a raid.