Different scenarios of BI have been identified on which work is going on such as Persona based Analysis, Predictive Analysis, Fraud/Anomaly Detection, Statistical Scoring, 360 degree view taxpayers, Circular Trading
& Network Analysis etc.
These nine companies, controlled by the business associates of Jagmohan Kejriwal director of Green Valley Plywood Limited, had further shown the sale of same goods to Green Valley Plywood Limited thereby completing the circle of circular trading
That allows Menon to juggle many balls at once: He can promise banks that he'll never ask them for the same data twice; police circular trading
in stock markets; ready specifications for a common QR code; and come up with a law that would force all large e-money players to protect the account balances of Singapore residents but leave smaller firms free to grow.
Describing the Rs 6,100-crore Bank of Baroda scam as a one of the events, he said the scam originated misusing the circular trading
mechanism to take advantage of duty drawbacks.
However, the central bank issued guidelines a week later that barred banks from buying bonds issued by other banks in order to forestall risks arising from circular trading
, whereby lenders agree to buy each other's bonds.
Thirty- three entities allegedly involved in circular trading
and share manipulation have been ordered by the Securities and Exchange Board of India ( Sebi) to appear before it.
"The trading was in effect not genuine trading, but 'circular trading
' to earn excess commission rebate paid by Macquarie Bank for trading in Macquarie Bank-issued warrants.
India's central bank has barred three overseas banks - Standard Chartered Plc (LSE: STAN) (STD.DE) (OTC: SCBFF) (HKG: 2888), Calyon and Societe General SA (SocGen) (SOGN.PA) (OTC: SCGLY) (GLE.FR) - from trading government bonds in the secondary market for six months due to allegations of circular trading
, Dow Jones Newswires has reported, citing a spokeswoman for the Reserve Bank of India (RBI).
The SECP has issued warning letters to 27 brokers of the Karachi Stock Exchange and 7 brokers of Lahore Stock Exchange for possible violations of the blank sales, wash sales, circular trading
, cross trades, broker misconduct etc.
In the Ravelle case, the collusion between the directors enabled the company to create 'fresh air' invoices and more importantly partake in 'circular trading
', the point of which is to create a complex set of trading requirements which allow a systematic deception of the factoring company.
The company, based in Kanonji, Kagawa, has admitted to involvement in so-called circular trading
, engaging in sales and purchases of goods totaling more than 100 billion yen on fake invoices mainly aimed at padding sales.
The Sebi chairman explained that there are different kinds of frauds such as synchronised and circular trading
, price manipulation and spoofing of markets with high frequency trading.