E-Passport Procurement Suspected of Tax Evasion and Foreign Exchange Misappropriation
Summary
Tax evasion and foreign exchange misappropriation suspicions arise in the procurement of e-passports involving IDEMIA, Capital Biz Solution, and Delta Core Pvt. Ltd., with questionable commission structures and offshore transactions.
Key Points
- Suspicions of tax evasion and foreign exchange misappropriation in the procurement of electronic passports have been further supported by evidence involving offshore transactions.
- Three companies involved are IDEMIA (France), Capital Biz Solution (Singapore), and Delta Core Pvt. Ltd. (Nepal), with overlapping ownership causing concerns.
- A 12.25 percent commission paid to the agent Capital Biz Solution, far higher than the international norm, raises suspicion of financial crime.
- Efforts to evade investigation include registering a new company in Dubai, complicating cross-border financial scrutiny.
