What is Money Laundering? - Dhananjay Choudhary Lawyer Expert

When a large amount of money is being earned by illegal methods like funding the terrorist activities, getting from illegal drugs or any other illegal source, this money is termed as illegal money.

How money is not tracked?

It is made possible by transferring the money from various channels, and it will become difficult to trace that from where the money is coming. This will mislead the origin of the money and is shown as it is from the legal source only. 

The main objective of doing this process is to hide the identity of the party who originally initiated the transaction, called the launderer. After moving from one place to another, it ultimately comes back to the launderer.

With the digitization of money, it has become easy for criminals to do the money laundering without any hassles. Through online, they can transfer the money from one account to another without even coming into their notice. 

This money is being withdrawn; then also it will be shown as it is from the legal sources only. Nowadays money laundering is done at the international level to provide funds and  great support for the terrorist.

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What does it mean to be illegal? - Dhananjay Choudhary Lawyer Expert

In every country, there are certain rules which everyone needs to follow, and if anyone does not follow that, then that person will be penalized for it as per norms. 

If anything which is done against the laws made is said to be illegal. There are different platforms offline and online which we are using nowadays, such as online banking transactions, social media, and many others. 

There are specific rules which are being made by the organizing team who is monitoring them. The rules and regulations established by these organizations are being considered as laws, and any breach in its rules and regulation, then the doer will be penalized.

Penalty of illegal Activity

The penalty is being given on the severity basis, that whether the illegal act is big or small. If it’s affecting the person that it threatens the life of a victim, or could cause harm to life. Then the penalty for it will be serious as compared to if anything is stolen, for which the person will get a less penalty.

The penalty will be given to the person or doer of the illegal act and needs to take the penalty as per crime. The penalty is already mentioned in the rules and regulation made by the law.

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What is Fraud? - Dhananjay Choudhary Lawyer Expert

When a person intentionally deceives the other person for his profit like to attain a purpose, then that is said to be as Fraud. The Fraud done could be for different purposes such as –

●      To have a Money – If anyone does the Fraud to fetch the money from another person and later on, the person who gets deceived could not be able to do anything. The Fraud happens, which makes the victim lose the hard-earned money.

●      Take Goods away – There are various valuable things that a person takes away from doing Fraud with the person. There are times when the other person is taking valuables like gold or costly ornaments by making the victim fool, hypnotizing, or by doing any other things.

●      The sensitive Information – At times, there is critical information with a person regarding any critical position, business secret, and others. The person deceives another person who is having information with his different tricks and take out all the information.

      The deceiver can sell the information to the one who needs that or can use it for its interest.

Even in a different work area of life, Fraud is a very common thing nowadays. So, it had become essential for everyone to become vigilant.

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