SATYAM SCAM ENCOURAGES ANTI-MONEY LAUNDERING REFORMS IN INDIA
January 1st, 2010
BY RAGHAVENDRA VERMA
INDIA'S largest ever financial fraud, the US$1 billion-plus Satyam computer company scam, where top management inflated revenues and laundered money for their personal gains, has shocked the Indian government into reassessing the efficacy of laws and regulations concerning corporate governance and anti money laundering (AML).
"We have learnt a lot", Salman Khurshid, India's corporate affairs minister said in a recent interview widely reported in the Indian press, "we have developed administrative skills to steer through ...
Full access to this article can be arranged with permission from the client that first ordered it. Please contact us to request access. Entries are uploaded to our archive at least one year after being published by a client – free access is restricted to International News Services journalists for background research only. The article date indicates when copy was filed to a client, not when posted to this archive. Upon client requests, International News Services will remove such articles from the archive or not upload them in the first place. They are included to demonstrate the breadth of topics undertaken by the agency and also to help promote clients’ coverage.