NEW DELHI — Rich Indians have stashed away almost $500 billion of illicit money abroad, parking the funds in countries considered the “least corrupt”, the country’s top police agency said on Monday.
The issue of so-called “black money” has been a major political headache for India’s government, which has faced pressure from corruption activists and political opponents to do more to claw back money held abroad.
“It is estimated that around $500 billion of illegal money belonging to Indians is deposited in tax havens abroad,” A.P. Singh, director of the Central Bureau of Investigation (CBI), told an Interpol conference in New Delhi. Full story
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Over $500 bn stashed by Indians abroad: CBI - Hindustan Times
Indians Stash Over $500 Billion In Overseas Banks - RTTNews
