This book, an outcome of the serious erudition of Dr M C Mehanathan, deals with the law on prevention of money—laundering elaborately. lt gives an account of international initiatives to combat the problem of money-laundering and critically analyses the provisions of the Prevention of Money- laundering Act, 2002. This book is the most exhaustive work on the subject ever written in India. Besides serving the members of the ’Bench and Bar’ as a reference manual, this book will also serve as a handbook of reference for officers of the banks, non-banking financial institutions and other institutions. The book in separate chapters, elaborates the Reserve Bank of lndia’s guidelines given to the banks, non-banking financial institutions and other institutions to combat the problem of money—laundering.

Table of Contents:
Title Page..................................................................................... Iii Foreword...................................................................................... v Preface ......................................................................................... vii List of Sections of the Prevention of Money-laundering Act, 2002 and the Chapters in Which They are Examined ........... xxxi Table of Cases ............................................................................. xxxvii Index ............................................................................................ 953 1 INTRODUCTION Problem of money-laundering............................................................................ 1 Adverse effects of money-laundering ................................................................ 1 Need for combating money-laundering.............................................................. 2 Anti-money-laundering regime .......................................................................... 3 Steps of money-laundering................................................................................. 4 1. Placement............................................................................................... 4 2. Layering................................................................................................. 4 3. Integration.............................................................................................. 4 Concern expressed by the Supreme Court ......................................................... 5 Global initiatives................................................................................................. 8 Financial Action Task Force (FATF)................................................................. 9 Extent of the problem of money-laundering in India ........................................ 9 Legislative interventions in India ....................................................................... 13 Enactment of Prevention of Money-laundering Act, 2002................................ 15 Views of the Supreme Court on the subject....................................................... 16