QUESTION 9
GS3
10 marks
Discuss how emerging technologies and globalisation contribute to money laundering. Elaborate measures to tackle the problem of money laundering both at national and international levels.
WRITE IN
7 min
150 words
What the examiner wants
Discuss how new technology and globalisation enable money laundering, and measures at national and international levels.
Discuss + ElaborateExplain the different sides of the issue, use evidence, and finish with a balanced view.
Demand-wise check
- 1Tech channels: cryptocurrencies, online gaming, shell companies, digital payments, mule accounts, trade-based laundering≈30 words
- 2Globalisation: tax havens, cross-border capital flows, hawala networks≈30 words
- 3National measures: PMLA 2002, FIU-IND, ED, crypto under PMLA (2023), beneficial ownership rules≈30 words
- 4International: FATF standards, mutual legal assistance, information exchange (CRS), Egmont Group≈30 words
Open in about 20 words and close in about 20.
Answer plan
ContextTechnology channelsGlobalisation channelsNational measuresInternational measuresConclusion
Where marks usually go
- Measures only at national level
- No mention of crypto or trade-based laundering
Draw this
- Three-stage laundering diagram: placement → layering → integration
Value addition
- LawIn March 2023 virtual digital asset service providers were brought under PMLA as 'reporting entities'.Ministry of Finance notification, March 2023
- FactIndia's FATF mutual evaluation (2024) placed it in 'regular follow-up', the top category.FATF Mutual Evaluation Report, 2024
Mapped topper copies
Reviewed public-source references related to this PYQ. Same-syllabus references are labelled separately.
- Aniket Ranjan · AIR 48 · Page 19 ↗Reviewed PYQ reference
- Aryan Sirsikar · Page 47 ↗Reviewed PYQ reference
- Dev Dudeja · Page 47 ↗Reviewed PYQ reference
- G Srujana · Page 47 ↗Reviewed PYQ reference
Links open original public sources. MainsBuddy does not host these answer sheets.
Next: plan for one minute, write it in 7 minutes, then get it checked.