Research Topic- Menace of Money laundering on Indian Economy and the changes

in the legislation.

Name- Adarsh Gautam

Reg. No.- 19DBALB004

ABSTRACT

Money laundering is an economic threat that wreaks havoc on the overall

financial, political, and social fabric. It is a method of concealing the illicit origin of
criminal proceeds. The current period of globalization has made the international
economy, global community, more involved, linked, interrelated, and
interconnected, but it has also opened the floodgates of opportunity for criminals to
develop, flourish, and profit. Least developed nations and emerging economies,
such as India's, are more vulnerable to being targeted by money launderers.
Because sophisticated economies have tighter financial controls and more effective
regulations in place to keep criminals in check. Weak financial systems and
controls in least developed and developing nations allow money launderers to enter
and establish a footing in these countries. This study examines the impact of money
laundering on the Indian economy as well as the suitability of a criminal measure
in place in India to combat the threat. The conclusion part of this paper sheds light
on the criminal system in India and its worthiness, and will attempt to assist
policymakers and lawmakers in making decisions about enacting more harsh
penal provisions to combat the issue.