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Money laundering case and the passive role of the investigating agency

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It cannot be denied that due to the range of offenses covered under the Money Laundering Act, multiple agencies have to be involved in the investigation.

But due to lack of co-ordination among the investigating agencies, advanced technology, surveillance equipment and trained manpower, it is taking forever to complete the investigation of each case.

Most of the accused in money laundering cases are businessmen, bankers and government officials. Cases have been registered against politicians and top executives of financial institutions. It seems clear that many businessmen, bankers and persons in state power are involved in crimes such as money laundering.

Lack of effective action by regulatory agencies in the financial sector is creating opportunities for money laundering. And, the lack of political goodwill is giving rise to money laundering crimes in the country.

Preventing drug, goods and human trafficking is a major objective of money laundering cases, but accounts for the least number of cases.

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