The FEMA's legal framework, which was created to control foreign exchange markets and transactions in India, aims to prevent money laundering. In addition to preventing money laundering, the PMLA framework offers the financial industry many opportunities. All financial institutions, including banks, the RBI, mutual funds, insurance firms, and their intermediaries, are covered under the PMLA Act. To conform to the World Trade Organization's structure, FEMA has superseded the previous law, FERA. However, there are severe consequences for breaking and disregarding these regulations.
So, to minimise the risk of penalties PMLA consultant in Mumbai offers:
● 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
