The document summarizes the Prevention of Money Laundering Act of 2002 in India. It defines money laundering as disguising illegally obtained money to make it appear legitimate. The act aims to prevent money laundering and confiscate illegally obtained assets. Money laundering generally involves three stages - placement of illegally gotten money into the financial system, layering by moving funds between accounts to obscure the trail, and integration by using the funds for legitimate purposes like real estate. The Enforcement Directorate has powers to investigate money laundering cases and attach properties. Penalties include 3-7 years imprisonment and fines.
Prevention of Money Laundering Act 2002ramandeepjrf
Prevention of money laundering act 2002
Definitions, Obligation for Banks, Financial Institutions, Intermediaries, Attachment, Adjudication and confiscation of property, Appellate Tribunal, Special Court, Penalty and fine.
The Prevention of Money Laundering Act, 2002 (PMLA) is an Act to prevent money-laundering and to provide for confiscation of property derived from, or involved in, money-laundering. In this webinar, we shall analyse and understand the various provisions of the Act covering the meaning of Money Laundering, the consequences and the procedures involved.
Income Tax Act 1961
Capital Gain, Basis of Charge, Capital Asset U/s 2(14) Income Tax Act, Transactions that do not constitute TRANSFER U/s 47, Types of Capital Assets, Computation of STCG, Computation of LTCG, Tax Exemption for Capital Gain.
Prevention of Money Laundering Act 2002ramandeepjrf
Prevention of money laundering act 2002
Definitions, Obligation for Banks, Financial Institutions, Intermediaries, Attachment, Adjudication and confiscation of property, Appellate Tribunal, Special Court, Penalty and fine.
The Prevention of Money Laundering Act, 2002 (PMLA) is an Act to prevent money-laundering and to provide for confiscation of property derived from, or involved in, money-laundering. In this webinar, we shall analyse and understand the various provisions of the Act covering the meaning of Money Laundering, the consequences and the procedures involved.
Income Tax Act 1961
Capital Gain, Basis of Charge, Capital Asset U/s 2(14) Income Tax Act, Transactions that do not constitute TRANSFER U/s 47, Types of Capital Assets, Computation of STCG, Computation of LTCG, Tax Exemption for Capital Gain.
Objectives & Agenda :
Chapter XXII of the Income-tax Act, 1961 discusses various Offences under the Income-tax Act and the applicable Prosecutions for such offences. These provisions act as a tool for enabling the Income-tax Officers to effectively enforce Income-tax laws, to deter tax avoidance and evasion and to punish wilful defaulters.
Sections Covered: 275A - 280D
Studied the objectives,code of bank’s commitment to customers, The micro.small and medium enterprises development act 2006,code of bank’s commitment to MSEs and banking ombudsman
hello guys!
this is small presentation on the topic ancilllary services offered by bank hope u find it usefull. It comprises of various services inland and overseas offered by the banker.
CAPITAL GAINS some basic provisions are provided. Except for exemption u/s 54/ Useful for B.Com or M.com Students. Provisions related are for AY 2014-15
Objectives & Agenda :
Chapter XXII of the Income-tax Act, 1961 discusses various Offences under the Income-tax Act and the applicable Prosecutions for such offences. These provisions act as a tool for enabling the Income-tax Officers to effectively enforce Income-tax laws, to deter tax avoidance and evasion and to punish wilful defaulters.
Sections Covered: 275A - 280D
Studied the objectives,code of bank’s commitment to customers, The micro.small and medium enterprises development act 2006,code of bank’s commitment to MSEs and banking ombudsman
hello guys!
this is small presentation on the topic ancilllary services offered by bank hope u find it usefull. It comprises of various services inland and overseas offered by the banker.
CAPITAL GAINS some basic provisions are provided. Except for exemption u/s 54/ Useful for B.Com or M.com Students. Provisions related are for AY 2014-15
This is my presentation about what is money laundering crime and what is the role of financial institutions in the fight against it. I used it during my speech for a bunch of Business School Students (ISM).
All product and company names mentioned herein are for identification and educational purposes only and are the property of, and may be trademarks of, their respective owners.
Powerpoint Search Engine has collection of slides related to specific topics. Write the required keyword in the search box and it fetches you the related results.
The Top Skills That Can Get You Hired in 2017LinkedIn
We analyzed all the recruiting activity on LinkedIn this year and identified the Top Skills employers seek. Starting Oct 24, learn these skills and much more for free during the Week of Learning.
#AlwaysBeLearning https://learning.linkedin.com/week-of-learning
MONEY LAUNDERING: A THREE-STEP SECRET GAMEMd Arman
This paper describes, theoretically, what money laundering is and
how it is done following some partnered activities over time. This
paper also looks for electronic money laundering and finds related
and predefined functions completed using electronic gadgets and the
Internet. To give a clear view on money laundering, the author thinks
it is necessary to make it clear first about the characteristics of money
laundering, the reasons behind it, and how it negatively impacts the
business and economy of a country. Money laundering is a crime in
most nations, and economically developed countries built a strong
fortress against money launderers, but laundering is not stopped. So,
this paper tries to find out what the launderers do and find innovative
(legally unaccepted) ways to make their illicit money legal.
Money Laundering: A Three-Step Secret GameMd Arman
This paper describes, theoretically, what money laundering is and how it is done following some partnered
activities over time. This paper also looks for electronic money laundering and finds some related and predefined
functions which are completed using electronic gadgets and the Internet. A systematic literature review is
conducted by employing a meta-analysis approach. To give a clear view on money laundering, the author thinks
it is necessary to make it clear first about the characteristics of money laundering, the reasons behind it, and how
it negatively impacts the business and economy of a country. Money laundering is a crime in most nations, and
economically developed countries built a strong fortress against money launderers, but laundering is not stopped.
So, this paper tries to discover what and how the launderers launder and discover inventive ways to turn their
unlawful cash lawful, which the legal authority cannot detect. This paper shows the step-by-step procedures of
these globally illegal money-whitening activities, mostly theoretically
Money Laundering: A Three Step Secret GameMd Arman
This paper describes, theoretically, what money laundering is and how it is done following some
partnered activities over time. This paper also looks for electronic money laundering and found some
related and predefined functions which are completed using electronic gadgets and the Internet. To give
a clear view on money laundering, the author thinks that it is necessary to make it clear first about the
characteristics of money laundering, the reasons behind it, and how it creates negative impacts on the
business and economy of a country. In most nations, it is a crime and economically developed countries
built strong fortress against money launderers but laundering is not stopped. So, this paper tries to discover
out what and how the launderers launder and discover inventive ways to form their unlawful cash lawful
which the legal authority can not detect. This paper shows the step by step procedures of this globally
illegal money whitening activities mostly theoretically
Professional services a chartered accountant can provide in preventing money ...CA. (Dr.) Rajkumar Adukia
The implementation of PMLA is conferred on several authorities as mentioned such as Director or Additional Director or Joint Director, Deputy Director, Assistant Director, and such additional directors/officers whose appointment may be deemed necessary under the provisions of the PMLA. Professionals like chartered accountants are more conversant with the business environment and hold special expertise in finances that gives them an additional advantage to fit into the role of assisting, serving such authorities.
Presentation given for Crowe Horwath Auditor's training session on 26/03/2016.
AML regulations are applicable to professional service providers also. See the presentation for more information
Money laundering is the process of transforming the proceeds of crime into ostensibly legitimate money or other assets. However, in a number of legal and regulatory systems, the term money laundering has become conflated with other forms of financial crime, and sometimes used more generally to include misuse of the financial system (involving things such as securities, digital currencies, credit cards, and traditional currency), including terrorism financing and evasion of international sanctions. This is a process whereby the origin of funds generated by illegal means is concealed (drug trafficking, fraud, gun smuggling, corruption, etc.)
Embracing GenAI - A Strategic ImperativePeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
Macroeconomics- Movie Location
This will be used as part of your Personal Professional Portfolio once graded.
Objective:
Prepare a presentation or a paper using research, basic comparative analysis, data organization and application of economic information. You will make an informed assessment of an economic climate outside of the United States to accomplish an entertainment industry objective.
Safalta Digital marketing institute in Noida, provide complete applications that encompass a huge range of virtual advertising and marketing additives, which includes search engine optimization, virtual communication advertising, pay-per-click on marketing, content material advertising, internet analytics, and greater. These university courses are designed for students who possess a comprehensive understanding of virtual marketing strategies and attributes.Safalta Digital Marketing Institute in Noida is a first choice for young individuals or students who are looking to start their careers in the field of digital advertising. The institute gives specialized courses designed and certification.
for beginners, providing thorough training in areas such as SEO, digital communication marketing, and PPC training in Noida. After finishing the program, students receive the certifications recognised by top different universitie, setting a strong foundation for a successful career in digital marketing.
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
Model Attribute Check Company Auto PropertyCeline George
In Odoo, the multi-company feature allows you to manage multiple companies within a single Odoo database instance. Each company can have its own configurations while still sharing common resources such as products, customers, and suppliers.
Welcome to TechSoup New Member Orientation and Q&A (May 2024).pdfTechSoup
In this webinar you will learn how your organization can access TechSoup's wide variety of product discount and donation programs. From hardware to software, we'll give you a tour of the tools available to help your nonprofit with productivity, collaboration, financial management, donor tracking, security, and more.
The French Revolution, which began in 1789, was a period of radical social and political upheaval in France. It marked the decline of absolute monarchies, the rise of secular and democratic republics, and the eventual rise of Napoleon Bonaparte. This revolutionary period is crucial in understanding the transition from feudalism to modernity in Europe.
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2. INTRODUCTION
The Prevention of Money Laundering Act came into
force w.e.f. 1st July,2005.
The Act was amended by the prevention of money
laundering (Amendment) act 2009 w.e.f. 1st
June,2009.
Further it amended by the prevention of money
laundering act (Amendment) act 2012 w.e.f. 15th
Feb,2013
This Act extends to whole of India including the state
of Jammu & Kashmir.
3. OBJECT OF THIS ACT
It is an act to prevent Money Laundering and to
provide for confiscation of property derived from, or
involved in, money laundering and to punish those
who commit the offence of money laundering.
4. WHAT IS MONEY LAUNDERING?
The goal of a large number of criminal activities is to
generate profit for an individual or a group. Money
laundering is the processing of these criminal proceeds
to disguise their illegal origin.
Illegal arms sales, smuggling, other organized crime,
drug trafficking and prostitution rings can generate huge mounts
of money. The money so generated is tainted and is in the
nature of ‘dirty money’. Money Laundering is the process of
conversion of such proceeds of crime, the ‘dirty money’, to
make it appear as ‘legitimate’ money.
5. MONEY
Thef LAUNDERING INCLUDES :
Tax evasion
t
Fraud
Human trafficking
Drug trafficking
Robbery
Prostitution
Terrorism
Arms smuggling
Corrupt practices
6. IMPORTANT DEFINITIONS
1.
“Attachment" means prohibition of transfer, conversion,
disposition or movement of property by an order issued
under Chapter III.
2.
Person Includes - An Individual, HUF, Company , Firm ,
AOPs , BOIs,
3.
"proceeds of crime" means any property derived or
obtained, directly or indirectly, by any person as a result
of criminal activity relating to a scheduled offence or the
value of any such property. [Section 2(1)(u)]
7. 4. "scheduled offence" means –
The offences listed in the Schedule to the Prevention
of Money Laundering Act, 2002 are scheduled offences10
in terms of Section 2(1)(y) of the Act. The scheduled
offences are divided into two parts - Part A & Part C.
In part A, offences to the Schedule have been listed
in 28 paragraphs
Part ‘C’ deals with trans-border crimes, and is a vital
step in tackling Money Laundering across International
Boundaries.
Annexure - A
8. 5. "property" means any property or assets of every
description, whether corporeal or incorporeal, movable
or immovable, tangible or intangible and includes
deeds and instruments evidencing title to, or interest
in, such property or assets, wherever located;
9. WHAT IS THE OFFENCE OF
MONEY LAUNDERING?
Whosoever directly or indirectly attempts to indulge
or knowingly assists or knowingly is a party or is actually
involved in any process or activity connected with the
proceeds of crime including its concealment, possession,
acquisition or use and projecting or claiming it as
untainted property shall be guilty of offence of money
laundering (Section 3)
10. HOW DOES MONEY LAUNDERING
TAKE PLACE ?
The process of Money Laundering generally involve the
following three stages :
11. 1. Placement
This is the first step of the money-laundering process and the
ultimate aim of this phase is to remove the cash from the
location of acquisition so as to avoid detection from the
authorities.
Ex: Dividing large amount of money into less smaller terms that are
deposited directly into different bank account.
12. 2. Layering
Layering involves moving funds around the financial system, often
in a complex serious of transactions to create confusion and
complicate the paper trail.
Ex: Exchanging money in larger or smaller amount, or transferring
funds to numerous accounts in one or more financial institutions.
Acct 1, Bank C
Acct 1,
Bank A
Acct 2,
Bank B
Acct 1,
Bank D
Acct 2, Bank B
Acct X,
Bank Y
13. 3. Integration
The ultimate goal of money laundering process is integration. Once
the funds are in the financial system and insulated through the
layering stage, the integration stage is used to create the
appearance of legality through additional transactions.
Ex: Purchase or resale of real estate, investment in securities etc.
Or funnel such money into various dummy firms and get repaid through
salaries, rent, leas on non- existing assets.
15. ACTIVITIES RESPONSIBLE FOR
MONEY LAUNDERING:
Conversion or transfer of property knowing that the property is the result of a
committed crime in order to conceal the illicit origin of the property;
Assistance to any person involved in committing of such a crime in order to
avoid legal consequences of these activities;
Hiding or concealing the true nature, source, location, availability and movement
of derived ownership rights or property knowing that the property is the result of a
committed crime;
Gaining, possession or use of goods or things or values knowing at the time of
their receipt that they are the result of illicit trafficking of narcotics;
Collusion in order to commit, attempt, assist, instigate, facilitate or advise to
commit crime of trafficking of narcotics including money laundering.
16. WHO CAN INVESTIGATE A CASE OF
MONEY LAUNDERING ?
As per Sections 48 & 49 of the PMLA, the officers of
the Directorate of Enforcement have been given
powers to investigate cases of Money Laundering. The
officers have also been authorised to initiate
proceedings for attachment of property and to launch
prosecution in the designated Special Court for the
offence of money laundering.
17. WHAT ARE THE POSSIBLE ACTIONS WHICH CAN BE TAKEN
AGAINST PERSONS / PROPERTIES INVOLVED IN MONEY
LAUNDERING ?
1.
Attachment of property u/s 5.
2.
Imprisonment for a term not less than 3 years, it may
extend up to 7 years and shall be liable to fine which may
extend to 5 Lakh rupees. (It may extend up to 10 years
and In case offence is punishable under the Narcotics
and Psychotropic substances Act, 1985)
3.
The prosecution or conviction of any legal juridical
person is not contingent on the prosecution or
conviction of any individual.