The document discusses money laundering, describing it as the process of making illicitly acquired assets appear legal. It highlights the importance of the Prevention of Money Laundering Act, 2002, and related regulations as the primary legal framework in India to combat such activities. Additionally, it acknowledges the roles of various regulatory bodies like the Reserve Bank of India and the Securities Exchange Board of India in enforcing these laws.

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Money laundering refers to the various methodologies used to make assets acquired illicitly appear
legal. It involves converting illegally obtained funds into seemingly lawful assets or creating businesses
to generate further income for financing the same illicit activities that originally generated the funds.
Money laundering and terrorist financing have become pressing concerns for the government and
regulatory bodies around the globe.
In India, the primary laws enforced to combat money laundering activities is the Prevention of Money
Laundering Act, 2002 (“PMLA”), and Prevention of Money Laundering (Maintenance of Record) Rules,
2005 (“PMLR”). The PMLA read with PMLR are coupled with rules and regulations formed by other
regulators such as Reserve Bank of India (“RBI”), Securities Exchange Board of India (“SEBI”) which
displays a broad framework for the anti-money laundering laws in India.