Gap used by companies to illegally move forex overseas to be fixed

  • Posted on October 2, 2025
  • By Business News Today
  • 2 Views
Gap used by companies to illegally move forex overseas to be fixed

The government is plugging a loophole exploited by dubious companies using tampered CA certificates and fake UDINs to illegally remit foreign exchange overseas. New measures will electronically transmit Form 15CA to banks and mandate online UDIN validation, preventing forgery and ensuring banks verify details. This aims to curb financial crime and strengthen compliance.
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