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  • 1.

    Domestic law
    Identify your jurisdiction’s money laundering and anti-money laundering (AML) laws and regulations. Describe the main elements of these laws.

  • 2.

    Investigatory powers
    Describe any specific powers to identify proceeds of crime or to require an explanation as to the source of funds.

  • 3.

    Criminal enforcement
    Which government entities enforce your jurisdiction’s money laundering laws?

  • 4.

    Can both natural and legal persons be prosecuted for money laundering?

  • 5.

    The offence of money laundering
    What constitutes money laundering?

  • 6.

    Qualifying assets and transactions
    Is there any limitation on the types of assets or transactions that can form the basis of a money laundering offence?

  • 7.

    Predicate offences
    Generally, what constitute predicate offences?

  • 8.

    Are there any codified or common law defences to charges of money laundering?

  • 9.

    Resolutions and sanctions
    What is the range of outcomes in criminal money laundering cases?

  • 10.

    Describe any related asset freezing, forfeiture, disgorgement and victim compensation laws.

  • 11.

    Limitation periods on money laundering prosecutions
    What are the limitation periods governing money laundering prosecutions?

  • 12.

    Extraterritorial reach of money laundering law
    Do your jurisdiction’s money laundering laws have extraterritorial reach?

  • 13.

    Enforcement and regulation
    Which government entities enforce your jurisdiction’s AML regime and regulate covered institutions and persons? Do the AML rules provide for ongoing and periodic assessments of covered institutions and persons?

  • 14.

    Covered institutions and persons
    Which institutions and persons must carry out AML measures?

  • 15.

    Do the AML laws in your jurisdiction require covered institutions and persons to implement AML compliance programmes? What are the required elements of such programmes?

  • 16.

    Breach of AML requirements
    What constitutes breach of AML duties imposed by the law?

  • 17.

    Customer and business partner due diligence
    Describe due diligence requirements in your jurisdiction’s AML regime.

  • 18.

    High-risk categories of customers, business partners and transactions
    Do your jurisdiction’s AML rules require that covered institutions and persons conduct risk-based analyses? Which high-risk categories are specified?

  • 19.

    Record-keeping and reporting requirements
    Describe the record-keeping and reporting requirements for covered institutions and persons.

  • 20.

    Privacy laws
    Describe any privacy laws that affect record-keeping requirements, due diligence efforts and information sharing.

  • 21.

    Resolutions and sanctions
    What is the range of outcomes in AML controversies? What are the possible sanctions for breach of AML laws?

  • 22.

    Limitation periods for AML enforcement
    What are the limitation periods governing AML matters?

  • 23.

    Do your jurisdiction’s AML laws have extraterritorial reach?

  • 24.

    Civil claims and private enforcement
    Enumerate and describe the required elements of a civil claim or private right of action against money launderers and covered institutions and persons in breach of AML laws.

  • 25.

    List your jurisdiction’s memberships of supranational organisations that address money laundering.

  • 26.

    Anti-money laundering assessments
    Give details of any assessments of your jurisdiction’s money laundering regime conducted by virtue of your membership of supranational organisations.

  • 27.

    Give details of your jurisdiction’s Financial Intelligence Unit (FIU).

  • 28.

    Mutual legal assistance
    In which circumstances will your jurisdiction provide mutual legal assistance with respect to money laundering investigations? What are your jurisdiction’s policies and procedures with respect to requests from foreign countries for identifying, freezing and seizing assets?

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AZB & Partners has been closely associated with the development and practice of competition law in India and is an acknowledged leader in the field. The firm’s lawyers regularly interact with India’s competition regulator, the Competition Commission of India (the CCI) and the Ministry of Corporate Affairs, government of India (the MCA).

View more information about AZB & Partners

AZB House,
Peninsula Corporate Park, Ganpatrao Kadam Marg
Lower Parel
400 013
T: +91 22 6639 6880
F: +91 22 6639 6888
Embassy Icon, 7th Floor
Infantry Road
560 001
T: +91 80 4240 0500
F: +91 80 2221 9347
A8, Sector 4
T: +91 120 4179999
F: +91 120 4179900
Onyx Towers, 1101-B, 11th Floor
North Main Road, Koregaon Park
411 001
T: +91 20 6725 6666
F: +91 20 6725 6600


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