Prevention Financial News

In a bid to combat terror financing, the government has introduced an amendment to the Prevention of Money-laundering (Maintenance of Records) Rules, 2005. The amendment aims to enhance record-keeping in case of international transactions exceeding Rs 50,000.

(Reuters) -Royalty Pharma said on Thursday it has purchased additional royalties on Roche and PTC Therapeutics (NASDAQ:PTCT)' oral spinal muscular atrophy (SMA) drug for an upfront payment of $1 billion.

Israel-Hamas war news: UK Prime minister Rishi Sunak has reached Israel amid Benjamin Netanyahu's war with Hamas fighters. Sunak's visit comes at the heel of a speculated ground invasion by Israeli Defense Forces (IDF) in Gaza. PM Sunak met Israeli President Isaac Herzog in Israel on Thursday, Sunak's office said, where the pair stressed the need to avoid further escalation of violence in the region.

That's the stuff of nightmares for media barons as Google and others experiment with what's called generative AI, which creates new content drawing from past data.

The prosecution in Sam Bankman-Fried's landmark fraud case revealed several telling messages the fallen crypto founder had via direct message through Twitter.

Telugu Desam Party (TDP) Chief N Chandrababu Naidu's remand in the alleged multi-crore skill development scam case till November 1. Chandrababu Naidu was presented virtually before the court from the Rajahmundry Central Prison. The former Andhra Pradesh chief minister and TDP chief was arrested by the Criminal Investigation Department (CID) on September 9 in connection with the multi-crore skill development scam case, leading to apolitical turmoil in the state with several TDP leaders alleging that the arrest was nothing but a political «witch-hunt» and that Naidu was held on the basis of false allegations. Earlier on Tuesday, the Supreme Court reserved its judgment on a plea filed by Chandrababu Naidu seeking to quash the FIR registered against him in the skill development scam case. Naidu had approached the top court seeking quashing of FIR and cited Section 17A of the Prevention of Corruption Act, 1988, to challenge his arrest by the Andhra Pradesh police's CID in skill development scam. He had challenged the High Court judgment rejecting his plea for the quashing of FIR.

To protect yourself from falling victim to this online scam, it is important to follow these precautions: 1. Verify the Source: Only use the official websites and apps provided by legitimate electricity providers for making online bill payments. 2.Check URLs: Before proceeding with any online payment, ensure that the website's URL begins with «https://» and has a padlock symbol, indicating a secure and encrypted connection. 3.Verify Payment Requests: Always double-check the authenticity of payment requests and the sender's information before making any transactions. Be cautious of any suspicious or urgent payment demands. 4.

Beijing has vigorously protested the U.S. Commerce Department's latest update of export controls to prevent exports to China of advanced computer chips and the equipment to make them

The U.S. has imposed sanctions on a group of people and firms based in Iran, China, Hong Kong and Venezuela, tied to the development of Iran’s ballistic missile and drone programs

Goldman Sachs currently employs 45,900 people. In the past 12 months, it's cut 3,200 jobs. This has not, however, prevented all kinds of people from wanting to work there. 

Sequoia Capital after starting investigations into several other venture capital firms for their investment in Chinese technology companies. The House Select Committee on China is seeking information about Sequoia’s investments into artificial intelligence, semiconductor and quantum computing companies in the Asian country, as well as its recently announced split into three firms. In the split, Sequoia China was rebranded as HongShan.

By Moira Warburton

Asia-Pacific should accelerate this year to 4.5%. But IMF estimate for growth next year has been lowered to just over 4%, based on signs of slowing growth and investment in Q3.

Shree Ramkrishna Exports (SRK), one the world’s largest diamond producers, from its list of international sponsors of war. Kyiv had accused the Mumbai-based company last month of «continuing to cooperate with the aggressor, purchasing diamonds in Russia,» despite Western sanctions over Russia’s invasion of Ukraine. SRK responded by insisting that it had not purchased rough diamonds from Russia since January and does not plan to do so in the future.

Mint examines the concerns related to the transparency and accountability of the scheme, as well as its potential for misuse as a political funding source. Electoral bonds were introduced in the 2017 Union Budget to enhance transparency in political funding. Concerns arose due to donor anonymity and lack of disclosure.

(Reuters) -Wall Street's top regulator on Wednesday proposed new regulations it said should level the playing field among broker-dealers operating on U.S. stock exchanges by ending pricing schemes that tend to favor bigger players.

stock exchanges, the Securities and Exchange Commission (SEC) is set to propose a proposal targeted at eliminating pricing practices that have typically benefitted larger broker-dealers. This plan, which will be voted on during a public hearing in Washington, seeks to limit the practice of stock exchanges giving lower transaction fees and incentives to brokerages with bigger trading volumes, a practice that has historically given larger businesses an unfair competitive advantage. The SEC's motivation behind this initiative is to address the intricate and unequal pricing tiers that exist among various exchanges, often resulting in substantial cost discrepancies for different brokerages. These current pricing structures, as outlined by SEC officials, have evolved into complex systems that prove challenging for market participants to decipher. One of the key purposes of this new regulation is to prevent conflicts of interest that arise when brokerages execute orders in a way that prioritizes their own interests above the interests of their clients.

African Diamond Producers Association's (ADPA) opposition to the G7 diamond protocol. The G7 countries are pushing for this protocol to prevent the entry of Russian diamonds into their countries. India cuts and polishes 9 out of 10 diamonds sold in the global market and diamond exporters in the country say it is very difficult to ascertain the origin of a diamond once it is cut and polished. ADPA has written to the chairman of the Kimberley Process Certification System (KPCS) to convey its resentment at not being included in the G7 discussions held since February on the matter and has rejected the G7 diamond protocol. Russian diamonds cut and polished outside Russia are considered originating from the country that “transformed” them.

Enforcement Directorate's (ED) powers to arrest and attach property involved in money laundering under PMLA required any reconsideration. A special bench headed by Justice Sanjay Kishan Kaul said the remit was «limited» as a three-judge bench had already addressed some issues related to the Prevention of Money Laundering Act (PMLA). «The issue now is whether anything requires reconsideration,» said the bench, also comprising Justices Sanjiv Khanna and Bela M Trivedi.

Supreme Court on Wednesday dismissed the Jindal Steel & Power Ltd’s (JSPL) appeal seeking a direction to the coal ministry to refrain from taking further steps for development of the Chhendipada coal mine in Odisha. Rungta Sons, which had emerged as the highest bidder in an e-auction of commercial coal mines on February 28, was granted the Odisha coal block. Having lost the Chhendipada (revised) coal block to Rungta Sons, a subsidiary of Jharkhand-based Rungta Mines, JSPL alleged that it was wrongly and unfairly prevented from submitting its next higher bid due to glitches on the MSTC portal. A bench led by Chief Justice D.Y. Chandrachud upheld the Delhi High Court’s July 25 decision that rejected JSPL’s petition for quashing of the grant of the Odisha coal block to Rungta Sons. Counsel Gauri Rasgotra, appearing for JSPL, claimed that technical glitches on the MSTC portal during the e-auction on February 27 had prevented it from submitting a higher bid for the mine that has 513 million tonnes of geological reserves.

Jet Airways founder Naresh Goyal, an accused in an alleged fraud of Rs 538 crore at the Canara Bank, to have home-cooked food inside prison. Goyal's plea for home-cooked food was allowed by special judge for cases under the Prevention of Money Laundering Act (PMLA) M G Deshpande on Tuesday.