Money Laundering Explained | Prevention of Money Laundering Act | UPSC Prelims & Mains 2022-2023

To take part in the Free Target Mains 2022 Program, download the App and register now! https://gradeup.onelink.me/KreX/p2w8ylba For more details on Target Mains 2022 visit: https://byjusexamprep.com/mains-2022-... Prepare for the UPSC Exam with BYJU'S knowledge series. A key topic - Money Laundering, is discussed in the session. This topic on Prevention of Money Laundering Act is an important part in Internal Security for UPSC Prelims & Mains 2022-2023. Subscribe to "BYJU’S IAS" Channel: 👉 https://www.youtube.com/c/BYJUSIAS?su... Subscribe to our “BYJU’S IAS Hindi” Channel: 👉 https://www.youtube.com/c/BYJUSIASHin... Register FREE - BYJU’S National Scholarship Test (BNST) for IAS 👉 https://byjus.com/bnst-ias/?utm_sourc... Free IAS Workshop [Limited Seats Available!] - Register Now 👉 https://byjus.com/ias-workshop/?utm_s... Money laundering is the process of disguising large amounts of money obtained from criminal activity, such as drug trafficking or terrorist activity, as being originated from a legitimate source. Money laundering is often, a component of other, much more serious, crimes such as drug trafficking, robbery or extortion. The main stages of Money laundering are: Placement, Layering and Integration. In this session you will learn about the following : 1. Introduction (00:00) 2. Money Laundering (0:47) 3. How much money is laundered per year? 4. Process of Money Laundering (9:24) 5. Methods of Money Laundering (21:30) 6. Impact of Money Laundering (31:03) 7. Prevention of Money Laundering (33:38) Financial Action Task Force, is an intergovernmental organization that acts as a global monitor against money laundering and financing of terrorism. Watch Knowledge Series Session on FATF here:    • Financial Action Task Force | FATF Guideli...   Some key aspects of the topic are also covered in the session - money laundering act, prevention of money laundering act, examples of money laundering, prevention of money laundering act 2002, important questions on money laundering for UPSC, etc. The Prevention of Money Laundering Act (PMLA) was enacted in 2002 and it came into force in 2005. The PMLA's primary goals are: Preventing money laundering. Preventing the flow of money into economic crime and illegal activity. Allowing for the confiscation of assets connected to or obtained from money laundering. Taking care of any additional issues related to or incidental to the act of money laundering. The Enforcement Directorate (ED) is in charge of looking into violations of the PMLA. Furthermore, the Financial Intelligence Unit - India (FIU-IND) is the national organisation responsible for collecting, processing, analysing, and disseminating data pertaining to questioned financial transactions. Don't wait anymore. Start your preparation with BYJU'S knowledge series. Stay tuned to learn more about similar important IAS topics only on BYJU'S Exam Prep IAS. Don't forget to like, share, and subscribe to our channel. All the very best for your upcoming exams, and let us know what you liked the most about this session. #ByjusIAS #ByjusKnowledgeSeries #ByjusIASKnowledgeSeries #moneylaundering #moneylaunderingmeaning #moneylaunderingact #preventionofmoneylaunderingact #examplesofmoneylaundering #preventionofmoneylaunderingact2002 #moneylaunderingis #moneylaunderingupsc #moneylaunderingact2002 #preventionofmoneylaundering #moneylaunderingexplained #InternalSecurityforupsc #InternalSecurityforias #byjusknowledgeseries #byjusiasknowledgeseries #knowledgeseriesbyjus #byjusiasknowledgeseries #byjusias #upscprelims #iasprep #iasupsc #iasexampreparation #iasprelims #upscprelims2022 #prelims2022 #upscpre2022 #upsccseprelims2022 #uppscprelims2022 #upscprelims2022 #prelims2022analysis #cse2022 #upsccseprelims2023 #uppscprelims2023 #prelims2023 #upscpre2023