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"The scale of revenue losses is alarmingly high," says the report, which stresses it has found no evidence of illegitimate activity by companies named.
Indeed, the effort to promote democracy around the world has been attacked as an illegitimate activity both by people on the left like Jeffrey Sachs and by traditional conservatives like Pat Buchanan.
Finally, he put companies involved in illegitimate activity on notice that they ran a risk of losing the contract if they failed to perform, funneled money to insurgents or behaved in a corrupt way.
But later, a blog post announced an impending crack-down on illegitimate activity.
While his comments focused on illegitimate activity, reports suggesting the statement signaled a broader cryptocurrency ban indicate a need for further clarification from Jaitley.
While his comments focused on illegitimate activity, reports suggesting the statement signaled a broader cryptocurrency ban seemed off-base since all overseas currencies, such as the U.S. dollar, are also not recognized as legal tender in India.
Similar(53)
This goal is pursued over the very long term, and there is often a mix of different transactions including some legitimate and some illegitimate activities.
"It facilitates a huge number of opaque offshore companies and trusts which can be used to hide all manner of illegitimate activities," according to the index.
India's finance minister said this week that the country does not recognise cryptocurrencies as legal tender and would take action against their use in funding "illegitimate activities".
"I didn't see the argument we've spend a lot of time talking about, which is that the legitimate activities allow the illegitimate activities to take place".
And their Uruguayan opposite number promoted "a South Atlantic zone of peace", denouncing what he termed the "illegitimate activities of oil exploitation" in waters near the Falklands.Ms Fernández nodded approvingly, while Britain's harried ambassador, Mark Lyall Grant, was forced to counter the barrage of accusations.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com