SFIO to probe 18 companies for suspicious transactions

New Delhi Dec 3: The government has decided to crackdown the black money as a part of this Serious Fraud Investigation Office (SFIO) will probe at least 18 companies for alleged suspicious transactions involving huge amounts of money during demonetization.

Sources said that IT department has handed over these names to SFIO after they conducted data mining of the deposits made after demonetization. Recently the Corporate ministry has stuck down 2.24 lakh companies and 3 lakh directors were barred from taking any charges.

Earlier he corporate affairs ministry has said that "Preliminary inquiry on the basis of information received from 56 banks in respect of 35,000 companies involving 58,000 accounts has revealed that an amount of over Rs 17,000 crore was deposited and withdrawn post demonetisation".

Sources said that Artifical intelligence is also being used to identify suspicious deposits so that people pay taxes.