SUMMARISED DESCRIPTION OF MONEY LAUNDERING WITH SOME FAMOUS EXAMPLES

2. MONEY
LAUNDERING
BY:
*GARGI MAHESHWARI
*SIDDHANT
MAHESHWARI

3. MONEY LAUNDERING
Definition:
As per Prevention of Money Laundering Act 2002
Whosesoever:
 Acquires, owns, possesses or transfers any proceeds of crime or;
 Knowingly enters into transaction related with any proceeds of crime, or;
 Aids in the concealment of proceeds of crime,
commits the offence of money laundering

4. PROCEDURE
Breaking up large sums of money into smaller units
Movement of funds to distance from their
source
Integrating smaller amounts into larger sums &
enters in legitimate economy

5. METHODS
Structuring: Often known as smurfing, this is a method of placement
whereby cash is broken into smaller deposits of money.
Casinos: An individual walks into a casino and buys chips with illicit
cash.
Real estate: Someone purchases real estate with illegal proceeds and then
sells the property.
Black salaries: A company may have unregistered employees without a
written contract and pay them cash salaries.

6. MOVIES on:

7. Famous Cases
PanamaPapers Founded:1986
40 offices worldwide
German Newspaper announced:
11.5 million documents
2.6 TB data
Sahara

8. Personalities trapped
Hasan Ali
Khan
Amitabh Bachchan
&
Aishwarya Rai Bachchan
Raja
Madhu Koda

9. ANTI MONEY LAUNDERING
Anti-money laundering (AML) refers to a set of
procedures, laws or regulations designed to stop the
practice of generating income through illegal
actions.
Global Initiative:
Financial Action Task Force (FATF) examine and evaluate
current situation, defines policy which act as solution &
to counteract the harms caused by money laundering. KYC Guidelines
 Penal Law

12. Thank You