Prevention of Money Laundering Act, 2002 – A Commentary is developed to be a ready reference on the subject in view of the changing dimensions of money-laundering. It analyses the law and practice of prevention of money-laundering in India in light of the legislative framework governing it and the judicial precedent developed over the years. The commentary aims to equip the practitioners with the necessary information on the subject to assist them in advising and representing their clients.
The chapters in the book trace the evolution of the Prevention of Money Laundering Act, 2002 and explain the various amendments that have been made to it through the years. The section-wise commentary lucidly explains the provision along with the relevant rules and judicial pronouncements. The book also discusses the international efforts made towards prevention of money-laundering and the role that the Financial Action Task Force (FATF) has played in ensuring global cooperation. In the last chapter the author has delineated, based on his experience with the subject, useful and practical tips for investigators and the defence counsels. The book also provides the Act, Rules and select Notifications as annexures for the easy reference of the readers.
About The Author
Mr Somesh Arora is a distinguished Indian Revenue Service Officer with experience of more than 25 years in various organizations in the Government of India including the Ministry of Finance and Ministry of Commerce. He is a practicing advocate since 2009 with specialisation in the areas of money laundering and taxation. He has also worked in various premier investigating agencies and has successfully conducted some of the leading Service Tax, Customs, Excise and FEMA investigations. He has published several articles in leading legal and tax journals and has to his credit four prior publications.