Money laundering

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Aliya Khanam

Aliya Khanam (Querist)
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10 January 2014 please help me in understanding about what is money laundering

Nikhil Kaushik

Nikhil Kaushik (Expert)
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10 January 2014 Dear aliya,

in basic words, money laundering is a process of moving money while concealing the source of the said money...

all the rules and regulations formed such as quoting PAN, limit on cash transaction etc are made to ensure that transactions are routed to through banking channels; through AIR and PAN, these transactions are further linked to ensure that sources are found and ensured that no illegal or tainted money is allowed to move scot free.

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