Abstract
Money refers to the conversion or laundering of money which is illegally obtained, so as to make it appear to originate from a legitimate source.Money is being employed by launderer’s world wide to conceal criminal activity associated with it such as drug/arm trafficking, terrorism and extortion. But in simple terms it is the conversion of Black money into white money. The Researcher wanted to limit the paper to National context, but was not able to do so as it was not at all possible due to the fact that any instance of money would have a tinge of international flavor as money typically involves transferring money through several countries in order to obscure its origin. Researcher has divided the paper into three parts. First part deals with the history of this process, the three steps involved in money and its effect. Second part elaborates international development and control mechanism to deals with this problem and analyses the position of India in controlling money laundering. Third part discusses various problems and loopholes in implementation of anti-money laws, the researcher concludes by putting forth a few suggestions to have sounder anti-money regime.
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