Combating of Money Laundering in National and International Perspective

Abstract

The main purpose of the study is to analyze the money laundering Act and the gaps which occurring in combating of money laundering. in this study various money laundering trend and schemes have been studied and the AML 2002 and the latest amendment have been covered , In this study the evolution of money laundering and its process have been covered and its impact on the financial sectors and several global and Indian initiatives has been analyzed to know the affectivity and the issues and challenges faced by the agencies. This research mainly presents the money laundering and terrorist financing preventive measures laws and amendments are enacting in the same way the launderers are finding different methods and techniques to exploit the economy and financial institutions as well as society, So there should be further improvement of the money laundering prevention to curb the problem and due to low conviction rate it remains an ambiguity in the law so the laws must be properly implemented and effective measures are needed to curb the money laundering/terrorist financing. And there must be harmonization between national and international laws.