Money laundering is a pervasive global issue that undermines the integrity of financial systems and poses severe risks to national security.
The Ins and Outs of Managing Properties Seized in Money Laundering Cases Read More »
By understanding the complexities of Adjudicating Authorities, we hope to provide you with a better grasp of their significance in the fight against money laundering. So, join us as we embark on this informative journey to demystify the workings of Adjudicating Authorities and their integral role in the enforcement of money laundering laws.
A Deep Dive into Adjudicating Authorities : PMLA 2002 Read More »
nderstanding the key court cases and their interpretations of the PMLA provisions is essential for legal practitioners, individuals, and businesses alike. Staying informed of the latest developments and interpretations of the law can help ensure compliance and minimize the risk of potential attachment and confiscation under the PMLA.
The Prevention of Money Laundering Act 2002, which serves as the primary money laundering law in India, sets out a robust legal framework for the confiscation of property related to money laundering offenses.
Understanding the Vesting of Property under Section 9 : PMLA Read More »
[et_pb_section admin_label=”section”] [et_pb_row admin_label=”row”] [et_pb_column type=”4_4″][et_pb_text admin_label=”Text”] KYC (Know Your Customer) is a critical component in the financial sector as it helps prevent money laundering and terrorist financing. Reporting entities, such as banking institutions, financial institutions, intermediaries, and others, must follow specific obligations regarding the maintenance of KYC records. However, it’s essential to understand the
The Dos and Don’ts of Using KYC Records for Reporting Entities Read More »
As the world becomes more interconnected, financial institutions and intermediaries face increasingly complex challenges to prevent money laundering, terrorist financing and other forms of financial crimes. To combat these crimes, governments around the world have introduced laws and regulations that require financial institutions to perform customer due diligence (CDD). Central KYC Records Registry is a
The Role of Central KYC Records Registry in Customer Due Diligence Read More »
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
Enhanced Due Diligence : Identifying High-Risk Customers Read More »
Process Of Attachment, Adjudication, Confiscation Of Property & Trial Under PMLA
Process Of Attachment, Adjudication, Confiscation Of Property & Trial Under PMLA Read More »
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,
Risk Categorization for Customers: What Reporting Entities Need to Know Read More »
