Bridging Borders: A Comparative Study Of The Anti-Money Laundering Legislation In India And The UK
- IJLLR Journal
- May 15
- 1 min read
Tusshar Sharma, Guru Gobind Singh Indraprastha University
ABSTRACT
Money laundering remains one of the most pressing transnational crimes, threatening global financial integrity and national security. This research undertakes a comparative study of the anti-money laundering (AML) legislative frameworks of India and the United Kingdom, two jurisdictions with diverse legal traditions but shared international obligations. The study evaluates the historical evolution, statutory provisions, enforcement agencies, compliance mechanisms, and international commitments of both countries under the FATF regime. By critically analysing the Prevention of Money Laundering Act (2002) in India and the Proceeds of Crime Act (2002) along with the Money Laundering Regulations (2017) in the UK, the research highlights fundamental similarities and systemic differences in scope, implementation, and effectiveness. Particular attention is given to institutional accountability, judicial oversight, and the role of financial intelligence units. The paper also explores challenges such as political misuse, regulatory burden, and procedural fairness, especially in the Indian context. Recommendations include legal harmonisation, bilateral cooperation, and enhanced use of technology to improve enforcement and reporting. Ultimately, the study underscores the importance of global collaboration in tackling the dynamic and borderless nature of money laundering activities.
Keywords: Anti-Money Laundering (AML), Financial Crime, Prevention of Money Laundering Act (PMLA), Proceeds of Crime Act (POCA), FATF Compliance
