Money Laundering Prevention, Law and Practice

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Description
if it is to serve any useful purpose, must be comprehensive enough to act as a mirror flash. Here is a preface not that comprehensive but without doubt a reflection of my work. You have now in your hands this book and useful to I have the feeling at the core of my heart that it would be very you. However, these words would be worth of praiseful picturisation only if you deem it to be so. All my efforts would be amply rewarded only if this publication serves the purpose aimed at. Undoubtedly the piece of work is meant for the use of Bar, Bench, investigation agencies, financial institutions, professionals, researchers and all those concerned with the field, but I also took care that this publication comes to the use and service of even those having only basic knowledge of law and financial systems or those commoners in the subject having the desire and aptitude for in-depth study of the matters concerned.
The first chapter of the book deals with the basic concepts of the subject and various stages of the money-laundering process, in great details including niceties interspersed with appropriate examples. The second chapter covers the many initiatives taken by Global and Regional International Organisations to combat the evil of money laundering. The third chapter deals with the relevant and novel concept of "cyber-laundering" in this digital age, a topic which is required to be proactively dealt with by law but fine aspects of which have, so far, remained largely untouched. Law has to grow in order to satisfy the needs of the fast-changing society and keep abreast with technological advancements. Law must walk in tandem with the evolutions technology has made and thus take away evidence from the jugglery and trivial objections of lawyers. As new situations arise, the law has to be evolved in order to meet the challenge of such new situations. Law cannot afford to remain static. The fourth chapter is a section-wise commentary on the Prevention of Money Laundering Act (PMLA), 2002 containing all the relevant cases, on the subject, decided so far and also includes the relevant Rules framed under the Act. Though the PMLA was enacted way back, its provisions were rarely employed and consequently, the few past years, numbers of reported cases were very low.
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Table of Contents
1. Basics of Money Laundering
2. International Efforts to Combat Money Laundering
3. Cyber Laundering
4. Section-wise Commentary on the Prevention of Money-Laundering Act, 2002
5. Role of Banks and SEBI in Preventing Money Laundering
6. Money Laundering in Other Sectors and Role of Professionals
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Author Details
Abhijeet Sharma