Finance Minister Cites Crypto Fraud Cases to Back Digital Data Access
In India, Finance Minister Nirmala Sitharaman has justified a new tax bill provision that gives tax authorities access to digital records, citing its need to fight financial fraud, especially in cryptocurrency transactions.
She highlighted a key case where tax authorities uncovered ₹90 crore worth of illicit crypto dealings through WhatsApp messages, stressing the need for legal backing to examine such digital evidence.
Sitharaman said tax investigators used encrypted messages to monitor people who were engaged in unaccounted cryptocurrency transactions. The case illustrated how digital assets are being used more and more for tax evasion and financial misconduct, and hence, access to digital information is crucial for…
