New Delhi: In order to unearth black money, the Central Board of Direct Taxes (CBDT) has begun a crackdown on banks and their officials found to be helping customers in tax evasion. CBDT is collecting information about such banks and officials in this regard.

The CBDT has learnt that a person has several bank accounts in a particular bank in his name.
A CBDT official said, “Foreign, private and government banks are on the radar of the Department.”

The Department will also seek help from the Indian Bank Association (IBA) in this regard.
The Directorate of Crime Investigation (DCI) has been formed to conduct the entire exercise.
CBDT would probe into the roles of banks which are ignoring the Know Your Customer (KYC) norms while opening new accounts.

(JPN/Bureau)