Author: PRASANNASRI26092001

MONEY LAUNDERING: AN ANALYSIS OF PREVENTION & DETECTION UNDER INDIAN RESIEME

AUTHORS – BHAVYA BASOYA* & PROF (DR.) MEENU GUPTA**, PURSUING LLM* & PROFESSOR**, AMITY LAW SCHOOL, NOIDA.

BEST CITATION – BHAVYA BASOYA & PROF (DR.) MEENU GUPTA, MONEY LAUNDERING: AN ANALYSIS OF PREVENTION & DETECTION UNDER INDIAN RESIEME, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 4 (2) OF 2024, PG. 1351-1359, APIS – 3920 – 0001 & ISSN – 2583-2344

ABSTRACT:

This paper delves into the evolution of money laundering practices from ancient times to the present day, tracing the historical roots of illicit financial activities. Beginning with early instances of currency debasement and smuggling, it examines the emergence of modern money laundering techniques alongside the development of banking systems. The analysis highlights key historical events and milestones that have shaped the landscape of financial crime, including the rise of organized crime syndicates and the globalization of illicit funds. Furthermore, the paper explores the evolution of regulatory frameworks and international efforts to combat money laundering, from the first anti-money laundering laws to contemporary regulations and enforcement mechanisms. By examining historical precedents and current trends, this study provides valuable insights into the ongoing challenges of detecting and preventing money laundering in an increasingly interconnected world. 

Keywords: Money laundering, historical analysis, regulatory frameworks, financial crime, illicit funds, banking systems, organized crime, anti-money laundering laws, international efforts, enforcement mechanism

INTERNET BANKING FRAUDS: A COMPREHENSIVE ANALYSIS

AUTHORS – ABHISHEK BHADANA* & PROF (DR.) AQUEEDA KHAN**, PURSUING LLM* & PROFESSOR**, AMITY LAW SCHOOL, NOIDA.

BEST CITATION – ABHISHEK BHADANA & PROF (DR.) AQUEEDA KHAN, INTERNET BANKING FRAUDS: A COMPREHENSIVE ANALYSIS, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 4 (2) OF 2024, PG. 1346-1350, APIS – 3920 – 0001 & ISSN – 2583-2344

ABSTRACT

The rise of internet banking has brought convenience but also increased the risk of fraud. This analysis explores the main types of internet banking frauds, such as phishing, malware, and identity theft, highlighting the tactics used by cybercriminals and the weaknesses they exploit. The study also reviews the financial impact, current security measures, and legal protections, offering insights into improving fraud prevention and enhancing the security of online banking systems. This version is concise and directly addresses the core aspects of the topic. Internet banking frauds have emerged as a significant threat to the global financial ecosystem, posing serious challenges to individuals, businesses, and financial institutions alike. The advent of digital banking, while offering unparalleled convenience and efficiency, has also opened up new avenues for cybercriminals to exploit vulnerabilities in online systems. This paper provides a comprehensive analysis of internet banking frauds, delving into the various methods employed by fraudsters, the underlying causes of these incidents, and the impact they have on the economy.In recent years, the proliferation of online banking has been accompanied by a surge in fraudulent activities, ranging from phishing attacks and identity theft to more sophisticated techniques such as man-in-the-middle attacks and malware-based intrusions. These methods often exploit the weakest link in the security chain—human behavior. Social engineering tactics, where individuals are tricked into revealing sensitive information or performing actions that compromise their accounts, are increasingly prevalent. The rapid evolution of these fraud techniques has made it difficult for security measures to keep pace, leading to significant financial losses and a loss of trust in digital banking platforms.Moreover, the global nature of internet banking has introduced complexities jurisdiction and regulation, as fraudulent activities can originate from any part of the world, making it challenging to track and prosecute perpetrators. This cross-border aspect complicates the enforcement of legal frameworks and highlights the need for international cooperation in combating cybercrime.

UNDERSTANDING SARFAESI IN RESPECT OF SECURITY ENFORCEMENT

AUTHORS – MAHASHWETA BHATTACHARYA & SHASHANK KUMAR, STUDENTS AT GURU GOBIND SINGH INDRAPRASTHA UNIVERSITY, DELHI

BEST CITATION – MAHASHWETA BHATTACHARYA & SHASHANK KUMAR, UNDERSTANDING SARFAESI IN RESPECT OF SECURITY ENFORCEMENT, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 4 (2) OF 2024, PG. 1341-1345, APIS – 3920 – 0001 & ISSN – 2583-2344

ABSTRACT

One of the important parameters to measure the growth of a nation is its economy and the growth in economy is well depends upon the functioning of the banking regulations. One of the key problems in the banking sector in India is the Non-Performing Assets. The Non-Performing Assets (NPAs) not only poses threats to bank but it also has a negative impact on the economy. That’s why it become very important to recover loan without any unnecessary delay. Earlier banks had to face long delays from courts to recover loans. So, to cop up with these problems, Parliament passes ‘The Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) and establishes the Debt Recovery Tribunal to especially dealt with issues to recovery of loans from banks. Then in 2002 by the recommendation of Narsimham II committee, legislature passed the The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI) to recover loan against the secured Assets. In this research paper our aim is to discuss and understand the SARFAESI, the meaning of the key terms like NPAs, Reconstruction of Assets, Constitutional validity of the act and the key provisions of enforcement of security interest under SARFAESI and the borrowers rights.

LEGAL STATUS OF LIVE IN RELATIONSHIP IN PRESENCE SCENARIO IN INDIA

AUTHOR – MS. PRATIBHA, LECTURER AT LAW AND GOVERNANCE, JAYOTI VIDYAPEETH WOMEN’S UNIVERSITY, JAIPUR

BEST CITATION – MS. PRATIBHA, LEGAL STATUS OF LIVE IN RELATIONSHIP IN PRESENCE SCENARIO IN INDIA, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 4 (2) OF 2024, PG. 1337-1340, APIS – 3920 – 0001 & ISSN – 2583-2344

ABSTRACT

We are all living in the 21st century where we are aware of our rights, so we can choose our religion and our life partner according to our will. So in the fast generation, a concept developed that is called the live-in relationship. If I talk about the previous time, at that time, men and women could live together after marriage. But in the 21st century, a new concept has emerged that is called “live in relationship”. In this concept, a man and a woman live together even without getting married, according to their wish. “Live in Relationship” is a concept under which a man and woman live together without getting married.

E-COMMERCE ERA: LEGAL COMPLEXITIES AND DIGITAL EVOLUTION FOR COMPANIES

AUTHOR – MAYANK RAJ, STUDENT AT UNIVERSITY OF PETROLEUM ENERGY STUDIES

BEST CITATION – MAYANK RAJ, E-COMMERCE ERA: LEGAL COMPLEXITIES AND DIGITAL EVOLUTION FOR COMPANIES, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 4 (2) OF 2024, PG. 1326-1336, APIS – 3920 – 0001 & ISSN – 2583-2344

Abstract

The introduction of digital transformation into the corporate world has become an essential component of modern trade. Businesses have quickly modified their strategy in reaction to the increasing usage of e-commerce platforms, utilizing digital technologies to expand their consumer base and enhance their reach. However, this quick shift to digital has also brought to light complex legal challenges that require careful consideration and vigilant adherence to regulatory compliance. This research explores the legal implications of digital transformation for companies that fall under the purview of the Companies Act of 2013, with a focus on critical areas including cybersecurity, data protection, and e-commerce laws.

One major risk for businesses functioning in the digital space is cybersecurity. Cyber-attacks are becoming more frequent and sophisticated, which puts organizations at serious risk. Companies are required under the Companies Act of 2013 to build up strict internal controls and defences against cyber risks and illegal access to their digital assets and information systems.

India’s e-commerce sector has grown at an exponential rate as businesses use online channels to increase their market share and improve consumer interaction. Regulators have, however, also taken notice of this rapid expansion. To monitor e-commerce activities and protect the interests of small-scale shops and customers, the Indian government has implemented stringent rules. Companies engaged in e-commerce are required under the Companies Act of 2013 to abide by the applicable e-commerce rules, such as the Foreign Direct Investment (FDI) policy for e-commerce platforms and the Consumer Protection (E-commerce) Rules of 2020. As a result, in order to avoid legal ramifications and foster confidence among their stakeholders, businesses must guarantee absolute adherence to these standards. There are several chances for innovation and growth as a result of the digital transformation of corporate processes. However, it also presents complex legal issues that need for an all-encompassing and proactive approach to regulatory compliance. Companies need to invest in strong cybersecurity infrastructure, align their data management procedures with global data protection and privacy standards, and carefully follow e-commerce rules in order to successfully manage the legal difficulties that come with digital transformation. Through the adoption of these techniques, businesses may reduce legal risks, enhance their digital resilience, and capitalize on e-commerce-related possibilities. This approach can ultimately lead to sustainable development and success in the digital age.

Keywords: Digital transformations, E-Commerce, Cyber-Security, Consumer Protection, Foreign Direct Investment.

“THE SIGNIFICANCE OF ALTERNATIVE DISPUTE RESOLUTION IN INDIA’S LEGAL LANDSCAPE”

AUTHOR – SPRIHA BISHT, STUDENT AT CHRIST DEEMED TO BE UNIVERSITY PUNE, LAVASA

BEST CITATION – SPRIHA BISHT, THE SIGNIFICANCE OF ALTERNATIVE DISPUTE RESOLUTION IN INDIA’S LEGAL LANDSCAPE, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 4 (2) OF 2024, PG. 1319-1325, APIS – 3920 – 0001 & ISSN – 2583-2344

ABSTRACT

Alternative Dispute Resolution (ADR) has gained recognition as an important tool for addressing the drawbacks of traditional litigation in the Indian legal landscape. This paper will begin by looking at what ADR is, discussing its historical roots in ancient Indian practices, and how it has become practiced formally. The paper will then give an overview of the various kinds of ADR, including arbitration, mediation, and conciliation, to show how these three methods serve distinct functions in ADR. We will then discuss the legislative framework in which ADR operates, including the Arbitration and Conciliation Act 1996 and the Legal Services Authorities Act 1987, to provide grounds for ADR in the Indian legal system. 

The benefits of ADR are many, which include reduced costs, speedy resolutions, and the ability to maintain relationships in a dispute. Also, ADR is not without difficulty. The main challenges are a lack of awareness, inconsistency in applying ADR, and limitations in reaching ADR resources, which undermine its benefits. There will be case studies that offer additional insight into how ADR has been effectively used in various situations, be it in family disputes, disputes involving commercial issues, or disputes in consumer rights, and how ADR is transforming the legal system. 

In conclusion, while ADR offers a way to move away from the current state of litigation in India, there must be a continued effort to develop ADR’s usability and impact. By effectively integrating ADR within the legal system, ADR can be positioned to address the backlog of cases in the courts and establish a mindset for collaborative problem-solving, which will contribute to a more efficient and equitable delivery of justice to the people in India.

KEYWORDS:  Alternate Dispute Resolution, collaborative problem-solving, equitable justice, speedy resolution, reduced costs.

CONCURRENCE OF ACTUS REUS AND MENS REA: A DESCRIPTIVE ANALYSIS

AUTHOR – AKSHAJ GARG, STUDENT AT CHRIST (DEEMED TO BE UNIVERSITY), PUNE LAVASA CAMPUS

BEST CITATION – AKSHAJ GARG, CONCURRENCE OF ACTUS REUS AND MENS REA: A DESCRIPTIVE ANALYSIS, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 4 (2) OF 2024, PG. 1312-1318, APIS – 3920 – 0001 & ISSN – 2583-2344

ABSTRACT

This paper provides a comprehensive analysis of the concurrence of Actus Reus and Mens Rea, two fundamental components in the establishment of criminal liability. These Latin terms, translating to “guilty act” and “guilty mind” respectively, form the cornerstone of criminal law, ensuring that a person is only held criminally responsible when both the wrongful act and the culpable mental state are present. The principle of concurrence, which requires that Actus Reus and Mens Rea coincide, is essential for a fair and just legal system, preventing convictions based merely on actions without the necessary criminal intent. The paper delves into the nature of Actus Reus, exploring how it constitutes the physical element of a crime, whether through a positive action or a failure to act when legally required. It emphasizes the necessity for voluntariness in these acts, noting that involuntary actions do not meet the threshold for Actus Reus and therefore cannot attract criminal liability. On the other hand, Mens Rea is examined in the context of the mental state that accompanies the wrongful act, including various levels of culpability such as intention, knowledge, recklessness, and negligence. The paper highlights how the degree of Mens Rea directly impacts the severity of the punishment, with intentional acts typically incurring more severe penalties compared to those committed recklessly or negligently. Additionally, the paper addresses the defences of mistake of fact and mistake of law, elucidating how these defences interact with the concept of Mens Rea. While a mistake of fact can sometimes absolve a defendant from liability under certain circumstances, a mistake of law generally does not provide such a defence. Overall, this paper emphasizes the critical interplay between Actus Reus and Mens Rea in the legal determination of criminal liability. By ensuring that both a guilty act and a guilty mind are present, the concurrence principle upholds the fairness and moral integrity of the criminal justice system, reserving punishment for those who engage in wrongful acts with criminal intent.

PRIVACY CONCERNS IN THE ERA OF SURVEILLANCE TECHNOLOGIES: NAVIGATING THE NEW FRONTIER

AUTHOR – VIKAS KUMAR* & DR. AMAN MALIK**, RESEARCH SCHOLAR* & ASSISTANT PROFESSOR**, DEPARTMENT OF LAW, JAGANNATH UNIVERSITY

BEST CITATION – VIKAS KUMAR & DR. AMAN MALIK, PRIVACY CONCERNS IN THE ERA OF SURVEILLANCE TECHNOLOGIES: NAVIGATING THE NEW FRONTIER, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 4 (2) OF 2024, PG. 1304-1311, APIS – 3920 – 0001 & ISSN – 2583-2344.

ABSTRACT

In the contemporary landscape, the intersection of privacy concerns and advanced surveillance technologies has emerged as a critical issue, reshaping the boundaries of personal autonomy and data security. As surveillance technologies, including AI-driven monitoring systems, facial recognition, and data analytics, become increasingly sophisticated, they offer unprecedented capabilities for monitoring and analyzing individuals’ behavior. While these advancements can enhance security and streamline various processes, they also pose significant risks to privacy. This research article explores the multifaceted privacy challenges introduced by the proliferation of surveillance technologies. It delves into how these technologies collect, process, and disseminate personal data, often without explicit consent or adequate transparency. The analysis includes a review of current privacy laws and regulations, assessing their effectiveness in addressing the rapidly evolving technological landscape. Particular attention is given to the limitations of existing legal protections and the need for more robust and adaptive frameworks to safeguard privacy in the digital age.

Keywords: Privacy, Surveillance, AI, Data Protection

THE IMPACT OF RECENT SUPREME COURT JUDGMENTS ON DIGITAL AGREEMENTS AND ARBITRATION IN INDIA: TOWARDS GREATER EFFICIENCY

AUTHOR – SAKKCHAM SINGH PARMAAR, STUDENT AT JINDAL GLOBAL LAW SCHOOL, O.P. JINDAL GLOBAL UNIVERSITY

BEST CITATION – SAKKCHAM SINGH PARMAAR, THE IMPACT OF RECENT SUPREME COURT JUDGMENTS ON DIGITAL AGREEMENTS AND ARBITRATION IN INDIA: TOWARDS GREATER EFFICIENCY, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 4 (2) OF 2024, PG. 1297-1304, APIS – 3920 – 0001 & ISSN – 2583-2344.

Introduction

The convergence of law and technology has brought about a transformative shift in the way agreements are made and disputes are resolved in India. As digital transactions become increasingly prevalent, the legal framework governing digital agreements and arbitration has had to adapt to new realities. The Indian Contract Act 1872,[1] and the Arbitration and Conciliation Act 1996,[2] have traditionally governed contracts and arbitration, but the digital age has introduced complexities that require reinterpretation and evolution of these laws.

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[1] (Indian Contract Act, 1872) <https://www.indiacode.nic.in/bitstream/123456789/2187/2/A187209.pdf> accessed 10 August 2024

[2] (The Arbitration and Conciliation Act, 1996) <https://www.indiacode.nic.in/bitstream/123456789/11799/1/the_arbitration_and_conciliation_act,_1996.pdf> accessed 10 August 2024

HAMDARD DAWAKHANA (WAKF) LAL KUAN, DELHI AND ANOTHER VS. UNION OF INDIA AND OTHERS (AIR 1960 SC 554)

AUTHOR – BHAVYA SINGH, O.P JINDAL GLOBAL UNIVERSITY

BEST CITATION – BHAVYA SINGH, HAMDARD DAWAKHANA (WAKF) LAL KUAN, DELHI AND ANOTHER VS. UNION OF INDIA AND OTHERS (AIR 1960 SC 554), INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 4 (2) OF 2024, PG. 1292-1296, APIS – 3920 – 0001 & ISSN – 2583-2344.

INTRODUCTION

In the case of Hamdard Dawakhana (Wakf) Lal Kuan, Delhi and Another v. Union of India and Others ,^[1] the Supreme Court emphasized the executive’s role in determining the efficacy of legislatively established norms, as well as how condition legislation comes into effect as an uncodified law that has taken on paramount importance in the operation of the nation’s institutions. 
Conditional legislation permits the government to enforce existing laws in certain circumstances while denying the right to enact new laws. 
This legislative approach enhances law enforcement by providing greater flexibility in execution. Governments can address major implementation difficulties, such as time and breadth, which are critical to the success of modern social welfare programs. It is obvious that parliament is not always available to make decisions on minor issues of processing laws, or when there is a need for adaptability, such as in crisis situations or natural disasters, or when the need for specialists in specialized issues cannot be overlooked, that delegated legislation comes in handy. However, the question that emerges is how and when the concept of conditional legislation is understood in legal systems. So, even though the executive is provided with power to enforce existing laws, there still exists specified instances of conditional legislation to be exercised judiciously to avoid overstepping delegated powers and risking nullification of actions.

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[1]  Hamdard Dawakhana (Wakf) Lal Kuan, Delhi and Another v. Union of India and Others, (AIR 1960 SC 554)