Search
Site Map | Related Sites | Definitions | Glossary | FAQs
Banking Company
Financial Institution
Intermediary
Enforcement Agency
Click here for FINnet portal
New uploads
Our contact details
Ministry of Finance
IRDA
RBI
SEBI
Home > FAQs > FAQs on Money Laundering
Frequently Asked Questions on Money Laundering
What is money laundering?
Money laundering involves disguising financial assets so that they can be used without detection of the illegal activity that produced them. Through money laundering, the launderer transforms the monetary proceeds derived from criminal activity into funds with an apparently legal source.

Related Links
Top
What is a Money Laundering offence?
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 and projecting it as untainted property shall be guilty of offence of money laundering.

Related Links
Top
What are proceeds of crime?
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.

Related Links
Top
What is a Scheduled Offence?
Scheduled offence means an offence specified under Part A of the Schedule, or the offences specified under Part B of the Schedule if the total value involved in such offences is thirty lakh rupees or more.

Related Links
Top
Disclaimer | Tenders | Contact us | Feedback | What’s New? | Site Map