Money Laundering Process — Mains Questions

Analyze the three stages of money laundering and discuss how technological advancements, particularly cryptocurrencies, have impacted each stage. What challenges do these advancements pose for law enforcement in India?

The Prevention of Money-Laundering Act (PMLA), 2002, has been instrumental in combating financial crimes in India. Critically examine its effectiveness, highlighting both its strengths and the persistent challenges in its implementation, especially in the context of high-profile cases.

Discuss the international dimensions of money laundering, focusing on the role of the Financial Action Task Force (FATF) and the challenges posed by offshore banking and shell companies. How does India align its domestic framework with global efforts?