HDFC, ICICI Involved In Money Laundering?

In a nation-wide sting operation called Red Spider, it has been revealed that internationally reputed banks like HDFC, Axis and ICICI are heavily involved in helping its "customers" in the latters' money-laundering efforts.

Not only have these banks reportedly been helping people convert black money into white via investments, they are also apparently creating fake accounts only for these dubious financial transactions, and cancelling them afterwards.