Ruchi, Research Scholar, CT University, Ludhiana, Punjab.
Prof. (Dr.) Simranjeet Kaur Gill, Principal, School of Law, CT University, Ludhiana, Punjab.
ABSTRACT
The article deals with the interpretation of the money laundering in the modern times. It discusses how the Money Laundering Prevention has been framed to prevent the money laundering. Furthermore, it discusses what have been achieved by the act. It discusses the challenges that have been faced by the act. It analyses the provisions of the prevention of money laundering act and its drawbacks. It discusses the various reasons that led to money laundering. It also discusses different techniques of money laundering. It also talks about various money laundering cases associated with various sectors such as Banking, insurance etc.
Keywords: Money Laundering, International law, Prevention of Money laundering, Financial Action Task Force, Smurfing, Hawala system
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