Law on Prevention of Money Laundering in India- (Commentary on Prevention of Money-Laundering Act, 2002 including Relevant Regulations, International Conventions and Provisions of the NDPS Act, 1985 ), Rep. 2015

This book, an outcome of the serious erudition of Dr M C Mehanathan, deals with the law on prevention of money-laundering elaborately. lt gives an account of international initiatives to combat the problem of money-laundering and critically analyses the provisions of the Prevention of Money- laundering Act, 2002. This book is the most exhaustive work on the subject ever written in India. Besides serving the members of the ’Bench and Bar’ as a reference manual, this book will also serve as a handbook of reference for officers of the banks, non-banking financial institutions and other institutions. The book in separate chapters, elaborates the Reserve Bank of lndia’s guidelines given to the banks, non-banking financial institutions and other institutions to combat the problem of money-laundering.

Title Page..................................................................................... Iii Foreword...................................................................................... vPreface ......................................................................................... viiList of Sections of the Prevention of Money-laundering Act,2002 and the Chapters in Which They are Examined ........... xxxiTable of Cases ............................................................................. xxxviiIndex ............................................................................................ 953 1INTRODUCTIONProblem of money-laundering............................................................................ 1Adverse effects of money-laundering ................................................................ 1Need for combating money-laundering.............................................................. 2Anti-money-laundering regime .......................................................................... 3Steps of money-laundering................................................................................. 41. Placement............................................................................................... 42. Layering................................................................................................. 43. Integration.............................................................................................. 4Concern expressed by the Supreme Court ......................................................... 5Global initiatives................................................................................................. 8Financial Action Task Force (FATF)................................................................. 9Extent of the problem of money-laundering in India ........................................ 9Legislative interventions in India ....................................................................... 13Enactment of Prevention of Money-laundering Act, 2002................................ 15Views of the Supreme Court on the subject....................................................... 16