But it would arrest the development of India's financial system, which is finally growing more sophisticated.

ECONOMIST: Inflation in India

Mr. Suljic's arrest was an "important" development in the probe into the crime syndicate Mr. Tan allegedly leads, Interpol Secretary General Ronald Noble said, according to the Associated Press.

WSJ: Singapore Steps Up Probe of Soccer Match-Fixing

Canadian Public Safety Minister Vic Toews called the development a "significant arrest" and noted that the Canadian government recently passed legislation to give security agencies additional tools to prevent terror attacks in Canada.

WSJ: Tunisian man denies NY terror cell plot claims