Money Laundering
As revealed by sources, in Mumbai‘s real estate market, cash transactions are still prevalent during transactions. The system of demanding an illegal cash payment still exists in many pockets of the city, especially Bandra, Khar and Juhu belts in the western suburbs. In the 1970s, builders used to take 80 per cent in cash and [...] Continue Reading »
What is money laundering law? Money laundering is considered as a serious threat to whole of the global financial systems as it involves disguising of financial assets which will be later on used without detection of the illegal activity that produced them. The whole idea of money laundering is to transform the monetary proceeds into [...] Continue Reading »
All real estate transactions will have to be reported to the country’s anti- moneylaundering agency once the government amends a key law that seeks to curb black-money transactions. The government plans to amend the Prevention of Money Laundering Act , which will require property registrars to file data of transactions recorded by them with the [...] Continue Reading »
