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