What is Money Laundering?

Money Laundering means:

As per Money Laundering Prevention Act, 2002
Article 2 (Tha)
Au Properties acquired or earned directly or indirectly through illegal means.
Aa Illegal transfer, conversion, concealment of location or assistance in the above act of the
properties acquired or earned directly or indirectly through legal or illegal means.

Process of money laundering:

Placement

Layering

Integration

Predicate offenses:

Corruption and bribery

Currency duplication

Duplication of paper and documents

Compelling to subscribe

Cheating

Counterfeiting

Illegal arms business

Illegal business of drug

Illegal business of theft goods

Abduction

Killing and injury seriously

Slaying of women and child

Black marketing and handover local and foreign currency

Theft and robbery

Human exploitation and illegal immigration

Dowry

Any other offence declared by the Govt. through public gazette.