Journalist Aniruddha Bahl made sensational claims, citing a sting operation by his online magazine Cobra Post to nail three major private banks in India – ICICI Bank, HDFC Bank and Axis Bank. Cobra Post’s investigation has “exposed” how these major banks are involved in money laundering.
The sting operation showed that bank officials at various branches were willing to oblige the persons, saying they would turn their black money into white. The sting also revealed how many people were allowed to open fake accounts using fake names/companies and they closed the accounts after the received huge money from abroad.
“Our investigation shows HDFC Bank, ICICI bank and Axis Bank rolling out the red carpet for our reporters proposing money laundering. This is with active connivance of the senior management of these banks. It is not one off employee who is doing this,” said Aniruddha Bahl. One HDFC guy was caught saying in the sting, “once you walk into the bank your money is our responsibility. Don’t worry”.
The Cobra Post has also claimed that HDFC Bank and its insurance affiliates offering such services to their customers who want to launder money. The HFDC has denied all allegations, saying the claims did not have any basis. However, the ICICI Bank has launched a probe into the allegations and asked the panel to submit a report within two weeks.
Disclaimer: The News Insight is just reporting the news by Cobra Post. We are not in a position to authenticate the validity of the sting or the allegations made in the investigation.