Enforcement Directorate arrests Kotak Bank manager for alleged links

Meanwhile, the bank said in a statement that it has already suspended the services of the employee and that it proactively informed the Financial Intelligence Unit (FIU) about the suspicious transactions.

“The Bank on its own, on observing the nature of transactions in these accounts, proactively filed a report with FIU for further investigations well in time. On subsequent investigation by the Income Tax authorities, the Bank, as per their instructions, has deposited the entire amount that was credited with these accounts with the Income Tax department,” the bank said in a statement.

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(Sourced from agencies, feature image courtesy:cobrapost.com)