Axis Bank facilitates banned money laundering in India.
There is great concern about the news about waht is happening in India right now, there is a lot of uncertainty, so it will be exposed in this article.
There seems to be some insecurity about preserving the Laws. Criminals rely on banks to facilitate money laundering and not going through the hassle of buying and selling bitcoin, because in these transactions they leave an imprint that they cannot erase.
It is for this reason that the ban on legal and high denomination banknotes from India, are causing some rather unexpected results. It is reported that the branch of Axis Bank, called Noida, underwent an operation similar to what happened to Wells Fargo, which happened recently. This process consisted of the bank’s employees opening fictitious bank accounts to deposit a large amount of money, which overlooked the current demonetization plans for high denomination paper. That is why banks are warned to remain perfect partners for crime and to get illegal funds that come from the formal banking system.
It is important to note that this news related to Axis Bank took many people by surprise, it is said that criminals are resorting to new means to ensure that their illegal “black” money is washed. As you recall, using legal or known banks is nothing new in these times, however, fake documents have been used to open fake and suspicious bank accounts.
What we should not lose from sight of is that the case of Axis Bank and Wells Fargo are not so different, it is necessary to put events into perspective it is impossible to think that bank officials did not know this illegal scheme. As you will recall Wells Fargo did the same thing with 2 million accounts and some consider and ensure that officials were aware of what was happening within the banking system. For this reason, Axis Bank is no different from this modus operandi, or at least as far as its branches denominated Noida is concerned.
It is mentioned that this is not the first time Axis Bank is mentioned in money laundering activity. As we can recall several dozen of false accounts were identified in another branch a few days ago. It was said that those accounts also received large amounts of illegal money. With these new accounts a mixture is added to a very dark future and a heavy load for the bank which is no longer reliable.
As you know, the only way to turn illegal money into legitimate money is through banks, this also makes these institutions the biggest culprits in money laundering, after all they can distort the numbers, or accounting. It is possible to create false accounts and even falsify documents, to make it appear that everything seems legitimate. Criminals rely on banks to facilitate money laundering and therefore, will not go through the hassle of buying and selling Bitcoin, if they can be traced.
It is important to note that all this shows that the banking system continues being the main facilitator of illicit activity, particularly in countries where banknotes are banned or replaced by others, banks are the only ones that have all the power, it is normal that some illegal funds are not detected, but there is a big difference with facilitating money laundering by creating fake accounts. Therefore, both Wells Fargo and Axis Bank have much to explain. We will continue waiting for new announcements.
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