Money Laundering Is The Process Of Making Large Amounts Of Money Generated By Criminal Activity, Such As Drug Trafficking Or Terrorist Funding, Appear To Have Come From A Legitimate Source.
India is extensively gripped under crime of money laundering. This is an important legislation, especially from an economy and polity points of view for the ias exam. It is the process by which huge amount of money obtained unlawfully, from drug trafficking, terrorist activity or other severe crimes.
Money Laundering Is Concealing Or Disguising The Identity Of Illegally Obtained Proceeds So That They Appear To Have Originated From Legitimate Sources.
Money laundering is usually used by criminals to hide money made through illegal act. According to the imf, global money laundering is estimated. Money laundering for upsc refers to the conversion or “laundering” of money which is illegally obtained, so as to make it appear to originate from a legitimate source.
It Is Frequently A Component Of Other, Much More Serious, Crimes Such As.
Ias aspirants should thoroughly understand their meaning and application, as questions can be asked from this static portion of the ias syllabus in both the upsc prelims and the upsc mains exams. It is frequently a component of other, much more serious, crimes such as drug trafficking, robbery or extortion. The recent cases of money laundering unearthed paint a sorry picture of india’s vulnerability in the financial sector.
This Is Because In India, Stashing Black.
Money laundering is concealing or disguising the identity of illegally obtained proceeds so that they appear to have originated from legitimate sources. Money laundering is the process by which large amounts of illegally obtained is given the appearance of having originated from a legitimate source. Money laundering is concealing or disguising the identity of illegally obtained proceeds so that they appear to have originated from legitimate sources.
The Term Money Laundering Originated From The Mafia Group In The United States Of America.
The prevention of money laundering act (pmla) of 2002 was enacted to identify and fight against the criminal offences that legalise the incomes and gains from illegal sources. According to un, “the conversion or transfer of property, knowing that such property is derived from any offense(s), for the purpose of concealing or disguising the illicit origin of the property or of assisting any person who is involved in such offense(s) to evade the legal. Money laundering is the process of creating the appearance that large amounts of money obtained from criminal activity, such as drug trafficking or terrorist activity, originated from a legitimate source.