Commentary On The Prevention Of Money Laundering Act, 2002 (3rd Edition) by Dr. Shamsuddin UPDATE UP TO FEB 2024
The 3rd edition has been comprehensively revised and updated in the light of significant changes made through legislative measures and landmark judgments of the Apex Court and the High Courts which effectively dealt with dimensions of white color crimes and financial frauds to combat money laundering.
Money laundering poses a serious threat not only to the integrity and sovereignty of countries but also to the global economy. The steps taken all over the world in criminalizing ‘money laundering’ and bringing anti-money laundering legislation into forefront at national and international level have made impact on the world economy. Most of the trades in money laundering are carried out by the organized crime groups involved in drug trafficking, terrorism and other related crimes in the form of ‘scheduled offences’ specified in the Schedule appended to the Prevention of Money Laundering Act, 2002 (15 of 2003) which has undergone several changes through the Finance Act in 2005, 2009, 2012, 2015, 2016, 2018, 2019 and 2023.
The concept of ‘money laundering’ before and after Vijay Madanlal Choudhary v. Union of India 2022 SCC OnLine SC 929 has been critically analyzed in the light of recent judgments of the Apex Court and the High Courts. Appendices namely Report of the Standing Committee on the Prevention of Money Laundering Bill, 1998 and Report of the Select Committee on the Prevention of Money Laundering Bill, 1999 have been incorporated in Chapter 19 of the book.
Author: Dr. Shamsuddin
Conferred LL.B (Hons.), LL.M and Doctorate degrees by Aligarh Muslim University and joined Maharshi Dayanand University on 06.08.1980 as Lecturer in law. He was on foreign deputation to Ahmadu Bello University, Zaria (Nigeria) as Senior Lecturer in Law from 1983 to 1988. On his return from abroad, he rose to the status of Associate Professor of Law and served Maharshi Dayanand University till 1991.
Dr. Shamsuddin joined the Government of India in 1991 and held senior positions for more than two decades as Legal Advisor, Special Public Prosecutor, Additional Director (Prosecution) and Head of Legal Division of the Enforcement Directorate. On recommendation of the Supreme Court of India, he was appointed as Presiding Officer, Debts Recovery Tribunal (DRT), Aurangabad and rendered his services from 2009 to 2013 with additional charge of DRTs at Pune and Nagpur.
Dr. Shamsuddin represented India at international Forum of the Financial Action Task Force (FATF, Paris), Asia Pacific Group (APG, Australia), Strasbourg (France), Cairns (Australia), Singapore and other foreign countries as part of Indian delegation. After superannuating from the Government of India as Additional Director, Enforcement Directorate, he resumed his practice as an Advocate and has been conducting cases before the Supreme Court,High Courts, Tribunals, Special Courts and Adjudicating Authorities all over the country.
Other Books authored by Dr. Shamsuddin are Meos of India: Their Customs & Laws and Women, Law & Social Change besides more than 100 Research Papers (Published & Unpublished).
Dr. Shamsuddin’s journey started from village Dhauj (Faridabad) located in the lap of Aravali Hills. Despite tough life full of hardships and challenges, he achieved a new milestone and created history in the legal field by entering into Limca Book of Records (2001).
