In the last post, we discussed about the trending ways of converting black moneys in to white. Here, we will discuss on how to pick such fraud activities. In other words, it talks about how to get any transaction detail, if you are suspecting anything wrong in it. It means if you are really a brave heart honest person and wants to know the ways of unleashing fraud activities, the following information can be useful for you. Here we will tell you the available rules that can help you in picking fraud activities.
KYC tells you everything; nothing can be hidden: Here’s how
As we discussed earlier that donating through bonds is one of the trending ways. But, it is here to mention that the electoral bonds, through which most fraud donations are being made to political parties, can be made available only in 4 months in a year. One can have it in January, April, October and July.
Moreover, electoral bonds can be got only through Sate Bank of India. Yes, it is a fact that the purchaser doesn’t need to submit MYC form for the same (which is said to be the reason behind encouraging corruption). But, it is also a fact that the person who wants it on-cash, has to submit KYC to the bank. And, the money will be transferred straight in to the account. It is essential for the person to make the cash conversion within fifteen days time; otherwise, the whole effort will go in vein. These laws have been introduced by the government to encourage action against black money.
What you can do?
It means if you suspect any kind of fraud activity, you can simply file a PIL and get the above information from the bank. Once the transaction details are available, picking the culprit is not really a big deal.
Bond donation as explained above is not that easy though. First of all, the person needs to provide complete KYC detail to the bank. KYC submission is not a very smooth process as well in Indian scenario. One needs to stand in queue and spend a lot of time. Banks verify the complete
detail of the person as well. Naturally thus, the details are captured.
Earlier, it used to be that one person makes donation and no one used to know about that during the Congress rein. But this time one needs to submit KYC and all details.
It means if someone is telling that there is no way to stop black money transaction, please don’t believe in such negativeness. Yes, thing is that we don’t dare to take actions. People get selfish and choose the easy path. So if you believe in positivism, you may at least pass this information by sharing or asking others to share.