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    Getting back black money 'difficult,' says minister

    New Delhi, Feb 13 (IANS) The government was finding it "difficult" to get black money stashed in overseas tax havens because the countries lacked the political will to curb the menace, Minister of State for Personnel V. Narayanasamy said Monday.

    Addressing a Central Bureau of Investigation (CBI) programme to train Interpol officers on how to investigate and recover black money, the minister said asset recovery needed cooperation from other nations as well.

    "Political will in other countries is not very encouraging. They say we are bound by laws," the minister said while inaugurating the programme.

    "We are finding it difficult to bring black money stashed away in foreign banks."

    Tackling black money, he said, assumed more significance because terror outfits were repeatedly using innovative electronic ways to deposit wealth in tax havens "for siphoning of funds for terrorism related activities".

    The training programme by the CBI, India's premier investigating agency, is significant because the government is committed to get back the wealth hidden in foreign banks, Narayanasamy said.

    The six-day training exercise is being attended by 30 Interpol officers from countries like Afghanistan, Sri Lanka, Britian, China, Malaysia, the Philippines and Indonesia.

    This is part of Interpol's Global Programme on anti-corruption and asset recovery.

    "The purpose of this programme is to enhance the knowledge and skills of investigators and prosecutors in tracking assets of mass corruption, and making effective use of legal assistance in international and trans-border investigations," a CBI spokesperson said about the training.

    This is the first such training exercise for police officers, investigators and prosecutors of Interpol member countries.

    CBI head A.P. Singh said corruption had become a "major challenge" in good governance.

    "There is no single remedy for fighting the menace. The battle has to be fought at many levels."

    He said "differences in legal systems, high costs in coordinating investigations, inadequate international cooperation and bank secrecy laws" had made the fight against corruption "difficult".

     

    35 comments

    • amit  •  Mumbai, Maharashtra  •  3 months ago
      Who is Government? SONIA RAHUL PRIYANKA CHIDAMBARAM PAWAR. These people would obviously find it difficult to bring back BLACK MONEY.
      • Ritesh 3 months ago
        Yes..Amit..If you notice Sonia is ruling here in a same way like France has the history..But the level of corruption starts here from the top level...Everybody knows about Chidambaram and Pawar..and there are many things which People do not know about this Gandhi family..
      • chandrakant 3 months ago
        Other nations can get back their black money ,why not India, because the persons who are responsible to get money back are involved in this balck money.Specially the Congress govt. is reluctant to get black money back to India.
    • TheBabe97183  •  3 months ago
      Kamino Desh ko bech dogey toh tum bhi gulam hi banogey!!!!!!!
    • raman  •  3 months ago
      Yes, it is difficult because the money deposited in swiss banks are belonging to various ministers, who are smart hence they already brought back the money and invested in various housing projects. Now the money is safe and in India, so how, Mr. narayanaswami can initiated bringging back the money, except excue nothing can be done.
    • In Zaire  •  3 months ago
      Narayanswamy is telling bullshit and misguiding the people of India. All know that most UPA's indicted ministers have amassed wealth worth billions of Indian tax money in tax heavens. The official figure declared to be 500 Billions USD. It is high time to rout out people like these from the face of politics. Imagine what harm they do on the daily basis to this nation. It is ir-repairable.
    • Rudrappa  •  Bangalore, Karnataka  •  3 months ago
      Present govt. never bring our money back... They are highly corrupt govt. in the WORLD.
    • Tony  •  3 months ago
      The government was finding it "difficult" ..... DIFFICULT HAHAHAH :)
    • Sri  •  3 months ago
      This is an utter irresponsiable statement, Money belongs to India, and asking Interpol to get trained on blackmoney affairs means, give the culprit some time, let him safeguard the illegal money.. Later we will blame interpol on the issues and we claim our party is clean...Its India's money its for us to burn the midnight oil to get it back....If you can't then simply step down and make way for others to try..
    • d  •  3 months ago
      The Minister just needs the will to do it...Here is the way...The Income Tax department of India issues a notice to all tax payers to declare income and expense from all overseas accounts and all investments held via overseas accounts. Then government makes a list of all the Swiss Bank accounts and asks Switzerland to provide names of all those who are NOT on that list...because they breached the law and regulation in India by not declaring it to Income Tax Department's request...Same can be done with every other place like Lichenstein, Bahamas, Virgin Islands, Channel Islands, Vanuatu, Monaco, Singapore, and so on...

      In all those places it is illegal to park illegal money or money which breached any regulation or law in any country...so then they have to give details. If they still don't, the Minister can move their courts using his embassy or consulate in that country and they will have to....so it is that simple.

      In summary all the government needs to prove is that the law or regualtion was breached by not declaring the account itself....the rest follows directly and legally from there..

      The second way is to do what USA did...sign a treaty with Switzerland that will require it to disclose all accounts held by Indian citizens or residents...If Switzerland does not sign it,government can place a ban on Swiss companies like UBS and Nestle trading with India..What is difficult about this at all??
      • mukund 3 months ago
        they do not want to get it back so all this fuss, they think that they have only the brains because we have appointed them as elected representatives of this country so they have power to say all this bull shit.i liked your answer nice one .
      • Heman 3 months ago
        @D,
        You are right and I agree with you. These political buffoons are fooling the nation. What if other country are not willing to disclose the details. Go the USA way and get the details of all the account holders.
    • hariom  •  Mumbai, Maharashtra  •  3 months ago
      Bringing money difficult because samy knows to whom the money belongs. At least make the names officially known. You do not need foreign govt permission for that.
    • Jagdip Vaishnav  •  Mumbai, Maharashtra  •  3 months ago
      It is requested to note , money earned not through official means,
      but illegally is subject to confiscation.such assets belongs to people of the country from where money has come in ,such deposits amounts to robeery ,stealing of someone's propety and depositors do not hold any title, legal power to hold /retain such deposits so banks can not defend for their depositors/customers.
      even if amount is transferred to other bank, country which has been
      deprieved of assets /money, can lodge complaint with the bank where deposit is transferred. It is easy to find out where money is transferred ,if not cash withdrawal.
      It is requested that foreign banks should obtain "know your customer " report, banks should ascertain whether deposits are from official source ,earned money.depositors should have service /business visa, depositor should give bonaide stay proof, etc
      banks can not just open the account /dummy account only because banks are receiving deposits.
      Banks must comply to social responsibilities, international obligations
      for the welfare of society /country
      till date it appears govt is neither determined, nor sincere, to control coruption.
    • Tilak  •  Bangalore, Karnataka  •  3 months ago
      This is the time for Supreme court to into action immediately, but we have also doubt on Supreme court. congress had looted our country and still looting . We can only wright here but cant do anything, because we are common man. Come on UP and show your strength and give lesson to these corrupted politician.
    • Ramakrishnan  •  Bangalore, Karnataka  •  3 months ago
      Just publish the names of the culprits/ if the Govt finds it difficult the people shall tarnish them / either they bring back the money themselves or leave the country or commit suicide
    • India SOLD!  •  3 months ago
      IDEA! Allow *Rahul Gandhi to confer 'CONSTITUTIONAL STATUS' to all such account holders!
      (*pls prefix hon'able or else **Kapat Cynical or **Mental Retardy or **Diggy Doggy or **Cheapmoneylaunder (**allow Hon'ble prefix for them too) will unleash agencies behind you to file case say - you left behind "*&$^" at age 3 with out flushing and now penalize you for that by making your run from one court to other)
    • gauravp  •  Mumbai, Maharashtra  •  3 months ago
      He himself must be involed in black money outside india then how can he even dare to get it back to India.
    • welcome  •  Mumbai, Maharashtra  •  3 months ago
      Easy to transfer illegal money to Swiss Bank but 'difficult to get back', what a funny statement. Such persons should be debarred for good to lead a country. If a Govt. employee fails to do his duty sincerely, he is charge sheeted, why such Ministers who fail to do their duty not be punished or sacked in public interest. If you have no political will then you should give way to those who are willing to serve the country sincerely and faithfully.
    • sujit  •  3 months ago
      Is eiter of congressmen or their allies anti national parties.black money has already blackened the face of congressmen.no justification or clarification iearning black money is not difficult for the congressmen in india,but bringing back black money is difficult for congressmen.why?because all the black money stashed abroad s required.
    • mukund  •  Bangalore, Karnataka  •  3 months ago
      just to say this he is getting his salary he should be ashamed to say so. its his congress party which was in power for 55 years and had they no head over their shoulders to make a proper agreements to bring back the black money, is it for what they are getting their salaries and this ministers shouting at their top of voice that parliment is supreme just to stab the common citizens on their back . this claims are of the congress and then too they need votes to rule the country and make black money.
    • Manmadhan  •  New Delhi, Delhi  •  3 months ago
      first and foremost Sack the incompetent Ministers, who whenever they open their mouths only tell lies, and put in their place very competent, efficient and proven track record Ministers and see the results. The countries, who according to the present inefficient lot lack political will, will automatically come forward with all the details and transfer the black money stashed abroad.
    • Maverick  •  3 months ago
      Years back Rajiv Oh! so very dear Rajiv Gandhi , with a hand inside the pocket of his jacket ,gave a statement ,about only twenty seven paise reaching the public(this statement has since become a currency of honesty-used unabashedly by his party).Blessed soul did not tell us that rest seventy three paise come back where they always belonged to.Inside the pocket of his jacket.Narayanswamy is faithfully carrying out the legacy.
    • Dayal  •  Frankfurt Am Main, Germany  •  3 months ago
      A knife should be put up ass of gandhi?nehru family
      • Ritesh 3 months ago
        You are correct Dayal..This Nehru and Gandhi family have destroyed the country..Yahoo is not posting my comment what I was actually trying to discuss with you..
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