Anti Money Laundering Case Study

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A Study on “Benefits of Anti – Money Laundering in India”

By
E.Srinivasan RollNo:EMSL14044 EMP ID: M0958 LIBA-Intern Maveric-System Ltd
Benefits of Anti – Money Laundering in India
Synopsis
1. Introduction
2. Project Description
3. Objective of the Study
4. Process of Money Laundering
5. Effects of Money Laundering
6. Cases of Money Laundering
7. Emergence of AML
8. Prevention of ML in India
9. Benefits of AML in India
10. Recommendations
11. Conclusion

1. INTRODUCTION
Money laundering is the process by which criminals disguise the original ownership and control of the proceeds of criminal conduct by making such proceeds appear to have derived from a legitimate source. This illegal activities were predominant in developing countries such as India, …show more content…

It appears to come from a legal transaction. At this point, the criminal can use the money without getting caught. It's very difficult to catch a launderer during the integration stage if there is no documentation during the previous stages.
4.2 Methods adopted to launder money The various measures adopted all over the world for money laundering are discussed below
• Structuring deposits or smurfing large amount of money is broken into smaller, less-suspicious amount.
• Overseas banks underground or alternative banking Money launderers send money through various "offshore accounts" in countries that have bank secrecy laws, which allows criminals to proceed all their intents and purposes. It allows customers to make many number of bank transfers to and from offshore banks.
• Shell companies These are fake companies started particularly to launder money. They take in dirty money as "payment" for supposed goods or services but actually provide no goods or services. Then they create the carry out the legal transactions with the falsified documents.

• Investing in legitimate

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