TRADE-BASED MONEY LAUNDERING: UNVEILING THE ECONOMIC CANCER IN INDIA - A FORENSIC APPROACH STUDY

Abstract

India, with its extraordinary market and growing tendency, there is abundance of commercial opportunities. While India holds evident commercial opportunities, it must be the same time addressed that there exist challenges due to this ease of doing businesses, like Trade Based Money Laundering (“TBML”). TBML is a problem for the Indian economy and stability because it may decree the collapse of financial integrity, violate trade dynamics and prevent the country from the possibility of progress. This paper is concerned with the wide spread TBML in the context of India and hints the reasons why it is there, the aftermath and whether India should adopt a forensic approach in order to defeat this "economic cancer".The research delivers crucial findings to assist government, policymakers and regulatory authorities along with financial institutions in creating efficient preventive strategies against money laundering. This creates vital benefits for both forensic accounting professionals and financial investigators and law enforcement workers conducting money-laundering investigations. This current research relies on a restricted range of material yet future investigations be explore different detection methods for money laundering.