Tag: PMLA

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“Financial networks are the backbone of modern terrorism.” Analyse the sources of terror financing. Examine India’s institutional mechanisms to curb it. Suggest improvements in the existing framework.

Topic: Internal Security Q6. “Financial networks are the backbone of modern terrorism.” Analyse the sources of terror financing. Examine India’s institutional mechanisms to curb it. Suggest improvements in the existing framework. (15 M) Difficulty Level: Medium Reference: InsightsIAS Why the question Rising concerns over terror financing networks, evolving digital channels and India’s commitments under FATF …

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India Tightens Crypto KYC to Curb Money Laundering and Terror Financing

Source: TOI Subject: Government Scheme Context: India has introduced stricter KYC and Anti-Money Laundering (AML) norms for cryptocurrency users by mandating live selfie verification, geo-tagging and bank account validation. About India Tightens Crypto KYC to Curb Money Laundering and Terror Financing: What it is? It is a mandatory digital identity verification framework for users of …

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The nexus between narcotics trafficking and organised crime poses a silent threat to national security. Analyse this statement and suggest multi-agency measures to disrupt such networks.

Topic: Linkages of organized crime with terrorism Q6. The nexus between narcotics trafficking and organised crime poses a silent threat to national security. Analyse this statement and suggest multi-agency measures to disrupt such networks. (15 M) Difficulty Level: Medium Reference: TH Why the question: The growing narco-terror nexus in India that threatens internal security and …

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Money Laundering via Cryptocurrency

Syllabus: Internal Security Source:  TOI Context: The Enforcement Directorate (ED) has raided 11 locations in Delhi-NCR and Dehradun in a ₹260 crore global cyber fraud case, where scammers posed as fake police and laundered extorted funds using cryptocurrencies and hawala networks. About Money Laundering via Cryptocurrency: What is Money Laundering via Cryptocurrency? Money laundering through …

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What role do Double Taxation Avoidance Agreements (DTAAs) and international information exchange frameworks play in addressing cross-border money laundering? Evaluate their effectiveness from India’s perspective.

Topic: Money-laundering and its prevention Q5. What role do Double Taxation Avoidance Agreements (DTAAs) and international information exchange frameworks play in addressing cross-border money laundering? Evaluate their effectiveness from India’s perspective. (10 M) Difficulty Level: Medium Reference: TH Why the question: India’s low conviction rate under PMLA despite a rising number of cases, along with …

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Adjudicating Authority under PMLA, 2002

Facts for Prelims (FFP)   Source: IE Context: The Adjudicating Authority under the Prevention of Money Laundering Act, 2002 (PMLA) has confirmed the attachment of assets belonging to the Congress party-promoted National Herald newspaper.   What is Adjudicating Authority under PMLA, 2002? The Adjudicating Authority under the Prevention of Money Laundering Act, 2002 (PMLA) is …

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Prevention of Money Laundering Act (PMLA): Importance and Concerns

GS Paper 3    Syllabus: Internal Security    Source: TH  Context: The article discusses the Prevention of Money Laundering Act (PMLA), which was initially aimed at combating the laundering of drug money but has expanded to include various unrelated offences over time. Recently, the Punjab and Haryana High Court clarified that courts can release an …

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[Mission 2024] INSIGHTS DAILY CURRENT AFFAIRS + PIB SUMMARY 10 July 2023

  InstaLinks :  help you think beyond the issue but relevant to the issue from UPSC prelims and Mains exam point of view. These linkages provided in this ‘hint’ format help you frame possible questions ina your mind that might arise(or an examiner might imagine) from each current event. InstaLinks also connect every issue to …

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Enforcement Directorate (ED)

GS2/GS3  Syllabus: Statutory bodies/ Money Laundering   Source: IE  Context: The question of the Enforcement Directorate (ED) chief’s tenure is back in the Supreme Court of India.   Explaining the issues: The tenure for directors of CBI and ED is two years. However, in November 2021, the President promulgated two ordinances allowing the Centre to extend …

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Amendments to PMLA rules and its impact on ‘politically exposed persons’, NGOs

GS Paper 3 Syllabus: Money laundering-related issues   Source: IE Context: The Finance Ministry has amended the Prevention of Money Laundering Act (PMLA) and rules in line with the recommendations of the FATF – the global money laundering and terrorist financing watchdog.   Background: The government has been struggling to deal with the pandemic-era upsurge …

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[Mission 2023] INSIGHTS DAILY CURRENT AFFAIRS + PIB SUMMARY 09 March 2023

InstaLinks :  help you think beyond the issue but relevant to the issue from UPSC prelims and Mains exam point of view. These linkages provided in this ‘hint’ format help you frame possible questions ina your mind that might arise(or an examiner might imagine) from each current event. InstaLinks also connect every issue to their …

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[Mission 2023] INSIGHTS DAILY CURRENT AFFAIRS + PIB SUMMARY 07 March 2023

InstaLinks :  help you think beyond the issue but relevant to the issue from UPSC prelims and Mains exam point of view. These linkages provided in this ‘hint’ format help you frame possible questions ina your mind that might arise(or an examiner might imagine) from each current event. InstaLinks also connect every issue to their …

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Enforcement Directorate:

GS Paper 3: Syllabus: Important Security Agencies.   Context: Congress MP Rahul Gandhi recently appeared before the Enforcement Directorate for the second day for questioning in a money-laundering case related to the National Herald newspaper.     About Enforcement Directorate: The origin of this Directorate goes back to 1st May, 1956, when an ‘Enforcement Unit’ …

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