Anti-Money Laundering Law

Money laundering is the act of disguising the proceeds of crime by transforming “dirty” money into “clean” money that appears to have been legitimately acquired. Money laundering is an enormous problem that has the potential to destabilize economies, increase corruption, and fuel organized crime. The Prevention of Money Laundering Act (PMLA) was enacted in 2002

In today’s world, where the internet has made transactions possible with a single click, it has also given birth to money laundering, terrorist financing, and many other illegal activities. Therefore, in order to combat these activities, the government has introduced a set of rules and regulations. One of the most important regulations is the implementation

Process Of Attachment, Adjudication, Confiscation Of Property & Trial Under PMLA

Reporting entities such as banking institutions, financial institutions, intermediaries, and more have various obligations under the Prevention of Money Laundering Act (PMLA), 2002, to maintain records, access information, and perform due diligence. One of the critical aspects of due diligence is the categorization of customers according to their perceived risk levels. In this blog post,

In the modern world, businesses must conduct a certain level of due diligence before transacting with their clients. This is to prevent money laundering, terrorist financing, and other forms of illicit financial activities. Reporting entities, such as banks, financial institutions, intermediaries, etc. are responsible for ensuring that they verify the identity of their clients and