Vol. 5, Issue 2 (2019)
The transactions of Black Money: A serious threat to economy
Author(s): Sahil Ahuja
Abstract: This paper emphasizes the concept of money laundering, smuggling and hawala. Money Laundering - An Organized Crime: Money Laundering has a close nexus with organized crime. Money Launderers accumulate enormous profits through drug trafficking, international frauds, arms dealing etc. Cash transactions are predominantly used for Money Laundering as they facilitate the concealment of the true ownership and origin of money. It is well recognized that through the huge profits the criminals earn from drug trafficking and other illegal means, by way of money laundering could contaminate and corrupt the structure of the State at all levels, this definitely leads to corruption. The methods of money laundering and the laws on money laundering with some important cases are clearly dealt with in this paper.