Abstract

Money laundering refers to the conversion or laundering of money which is illegally obtained so as to make it appear to originate from a legitimate source Money laundering is being employed by launderer s worldwide to conceal criminal activity associated with it such as drugs arms trafficking terrorism extortion and reason for various other heinous crimes But in simple term it is the conversion of black money into white money The research inevitably to explain the paper to context that any instance of money laundering would have an angle of international degree as money laundering typically involves transferring money through several countries in order to obscure its origin Further the research has divided into four parts first part deals with the jurisdictional issue arise during transnational money laundering Second part deals with the intention of Parliament of India meant to target proceeds of criminal conduct then and now in the money laundering and its related offenses Third part elaborates international development through different instruments and controlling mechanisms to deal with this problem and analyse the position of India in controlling money laundering Fourth part discusses various problems and loopholes in implementation of anti-money laundering laws Finally the research concludes with few suggestions to have better anti-money laundering regime