Abstract:

Corporate fraud and money laundering, that is characterized by a definite time interdependence, are two such offences that have led to threats to the integrity and governance of the markets in India. Although fraud occurring in the companies comes within the scope of criminalisation in the Companies Act 2013, the Prevention of Money Laundering Act 2002 (PMLA) targets the proceeds of a corresponding wrongdoing. Their contact has given a complicated landscape of implementation and needs an analysis by the legal, institutional and judicial regimes between them. The given paper will study the interconnection between fraud and laundering as a concept, analyse statutory as well as case law and outline significant issues of enforcement. The paper supposes that in the study of the landmark judgment in the form of Standard Chartered Bank v. Directorate of Enforcement, Iridium India Telecom v. Motorola Inc., SERIOUS fraud investigation office v. Nittin Johari and Vijay Madanlal Chaud, based on the comparison of the United Kingdom and the United States, it suggests that the corporate fraud and anti-money laundering regulation should be harmonised in a single enforcement.

Keywords:

Corporate Fraud, Money Laundering, Economic Offences, PMLA (Prevention of Money Laundering Act), Corporate Governance.

Aim/Objectives

Methods