The legislative framework established by FEMA to oversee foreign exchange markets and transactions in India is aimed at preventing money laundering. The PMLA framework offers the financial industry several options while thwarting money laundering. All financial institutions are covered by the PMLA Act, including banks, mutual funds, insurance firms, RBI, and their intermediaries. FEMA superseded the previous law, FERA, to conform to the World Trade Organization's structure. But breaking these regulations and disobeying them carries severe consequences.
How we help businesses to minimise the risk of penalties:
Advisory services for handling foreign exchange transactions.
Assistance in securing the necessary government approvals.
Foreign direct investment services
Help with a case involving money laundering
