There is an interesting coincidence in the whole Bank of Baroda remittance scam – the amount of money that is said to have gone out of the country (Rs 6,000 crore) is bigger than the illegal money that the government has claimed to have recovered from foreign soil during the 90-day black money compliance window (Rs 4,147 crore).
According to investigators, perpetrators transferred large amount of funds abroad by splitting into small sums through several thousands transactions using names of non-existent entities to avoid taxmen.
