Is the entire banking and finance system prone to money laundering?

Rajdeep Sardesai, CNN-IBN | May 06, 2013 at 11:43pm

As many as 23 public and private sector banks and insurance companies were on Monday accused of 'running a nation-wide money laundering racket' by online portal Cobrapost, prompting the Finance Ministry and regulator IRDA to initiate independent investigations into the matter.