India has the third-highest trade-related illicit financial flow among 135 countries
”According to the suspicious activity reports, several Indian banks were involved in the illegal flow of money within and outside the country. These banks include the State Bank of India, Punjab National Bank, Union Bank of India, Bank of Baroda, Canara Bank, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Axis Bank and IndusInd Bank, among others.
For decades, financial experts believe, India and its western allies, have ramped up pressure on Pakistan, accusing it of supporting flow of money through illegal channels. The damning exposé, one expert said, comes just in time for the upcoming FATF plenary meeting