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Received Notice for Money Laundering Case? Before appearing on summons at Enforcement Directorate and recording your statements, please make sure you've consulted with Ozg Lawyers


The offence of Money Laundering generally involve the following three stages namely placement, layering and integration.


📌 Placement:

The Money Launderer, who is holding the money generated from criminal activities, introduces the illegal funds into the financial systems. This might be done by breaking up large amount of money into less conspicuous smaller sums which are deposited directly into a Bank Account or by purchasing a series of financial products.

📌 Layering:

In this stage, the Money Launderer typically engages in a series of continuous conversions or movements of funds, within the financial or banking system by way of numerous accounts, so as to hide their true origin and to distance them from their criminal source. The Money Launderer may use various channels for movement of funds, like a series of Bank Accounts, sometimes spread across the globe, especially in those jurisdictions which do not cooperate in anti-money laundering investigations.

📌 Integration:

Having successfully processed through the first two stages of Money Laundering, the Launderer then moves to this third stage in which the funds reach the legitimate economy, after getting inseparably mixed with the legitimate money earned through legal sources of income. The Money Launderer might then choose to invest the funds into real estate, business ventures & luxury assets, etc. so that he can enjoy the laundered money, without any fear of law enforcement agencies.

The above three steps may not always follow each other. At times, illegal money may be mixed with legitimate money, even prior to placement in the financial system. In certain cash rich businesses like Gambling and Real Estate, the proceeds of crime may be invested without entering the mainstream financial system at all.

Before appearing on summons at Enforcement Directorate and recording your statements, please make sure you've consulted with Ozg Lawyers. Please, follow link at below to schedule your tele-appointment with Ozgian.

Ozg Lawyers: AML Advisory

₹3780 ☎️ ozglaw.com/appointment

WhatsApp📲 WA.me/918779696580

The supporting case documents get you a better strength than anything else. You may consider taking services of Ozg Documentation Centre for the same.

Email: legal@documentationcentre.com

Punishment -

📌 Attachment of property under Section 5 of PMLA, 2002, seizure or freezing of property and records under Section 17 or Section 18 of PMLA, 2002. It is also applied on assets of any kind used in the commission of an offence under PMLA, 2002 or any of the scheduled offences.

📌 Persons found guilty of an offence of Money Laundering are punishable with imprisonment for a term which shall not be less than 3 years but may extend up to 7 years and shall also be liable to fine under Section 4 of PMLA, 2002.

📌 When the scheduled offence committed is under the Narcotic Drugs and Psychotropic Substances Act (NDPS), 1985 the punishment shall be imprisonment for a term which shall not be less than 3 years but which may extend up to 10 years and shall also be liable to fine.

📌 The prosecution or conviction of any legal juridical person is not contingent on the prosecution or conviction of any individual.

Before appearing on summons at Enforcement Directorate and recording your statements, please make sure you've consulted with Ozg Lawyers. Please, follow link at below to schedule your tele-appointment with Ozgian.

Ozg Lawyers: AML Advisory

₹3780 ☎️ ozglaw.com/appointment

WhatsApp📲 WA.me/918779696580

The supporting case documents get you a better strength than anything else. You may consider taking services of Ozg Documentation Centre for the same.

Email: legal@documentationcentre.com

Enforcement Directorate (ED)

The ED has got following power -

📌 To provisionally attach any property derived or obtained, directly or indirectly, by any person as a result of criminal activity relating to a scheduled offence or the value of any such property under Section 5 of PMLA Act, 2002;

📌 To conduct survey of a place under Section 16 of PMLA Act, 2002;

📌 To conduct search of building, place, vessel, vehicle or aircraft & seize/freeze records & property under Section 17 of PMLA Act, 2002;

📌 To conduct personal search under Section 18 of PMLA Act, 2002;

📌 To arrest persons accused of committing the offence of Money Laundering under ection 19 of PMLA Act, 2002;

📌 To summon and record the statements of persons concerned under Section 50 of PMLA Act, 2002.

Before appearing on summons at Enforcement Directorate and recording your statements, please make sure you've consulted with Ozg Lawyers. Please, follow link at below to schedule your tele-appointment with Ozgian.

Ozg Lawyers: AML Advisory

₹3780 ☎️ ozglaw.com/appointment

WhatsApp📲 WA.me/918779696580

The supporting case documents get you a better strength than anything else. You may consider taking services of Ozg Documentation Centre for the same.

Email: legal@documentationcentre.com

Time limit of Seizure -

📌 The property & record may, if seized be retained or if frozen may continue to remain frozen for a period not exceeding 180 days from the day on which such property or record were seized or frozen, unless the Adjudicating Authority permits retention of such record or property beyond the period of 180 days as per sections 20 & 21 of PMLA, 2002.

Arrest -

📌 The Authorized Officer making arrest shall, as soon as may be, inform the arrestee of the grounds for such arrest.

📌 Every person so arrested shall, within twenty four hours, be taken to a Judicial Magistrate or a Metropolitan Magistrate, as the case may be, having jurisdiction as per section 19 of PMLA, 2002.

📌 To get consultation on your case, please schedule a tele-appointment with Ozg Lawyers at link below or please write an email to: support@ozglaw.com

Ozg Lawyers: AML Advisory

☎️ ozglaw.com/appointment

📲 WA.me/918779696580

📲 moneylaundering.ozg.in

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FATF FIU ozglaw Havala Hawala

is Forex Trading App legal in India?

The RBI cautions the public not to fall in trap of advertisements issued by online trading platforms, which entice people for forex trading or investing with promises of exorbitant returns by using a binary trading system. Under FEMA, 1999 binary trading is not allowed, although due to ignorance many people falling prey to such tempting offers and losing money heavily. To discuss your case with Ozg Lawyers & Experts, please WhatsApp or Email to: ask@fema.in


RBI observed that some people continue to use online trading in forex platform app, offering them attractive schemes wherein they initially remit funds from Indian bank accounts using credit cards or other electronic channels like paypal to these app and subsequently receive cash refunds from these these app into their credit card or bank accounts. With a view to further strengthening the restrictions on such online activities which are in violation of FEMA, 1999, banks are already directed as follows:

i. All banks which offer credit cards or online banking facilities to their customers should advise their customers that any person resident in India collecting and effecting / remitting payments directly /indirectly outside India in any form towards forex trading through any such portals and app would make himself / herself / themselves liable to be proceeded against with for contravention of the Foreign Exchange Management Act (FEMA), 1999 besides being liable for violation of regulations relating to Know Your Customer (KYC) norms / Anti-Money Laundering (AML) standards.

ii. As and when any bank comes across any prohibited transaction undertaken by its credit card or online banking customer the bank will immediately close the card or account of the defaulting customer and report the same to RBI.

If it is observed that the concerned bank has failed to carry out the measures as outlined above, RBI may proceed against the defaulting bank under section 11(3) of FEMA, 1999 and take any action as may be deemed necessary. 

Note: Information provided here in this post is based on following original source (whereas Bank means AD Category 1 Bank): (A.P. (DIR Series) Circular No. 46 dated September 17, 2013).

To save your time and #legal cost on your FEMA compliance including #EDPMS or #IDPMS #settlement matters, please WhatsApp or write an email to: ask@fema.in


Tele-Appointment Link:

📲 facebook.com/FEMAconsultant


Write Email to ðŸ“® ask@fema.in

24/7 ☎️ WA.me/918779696580


#FemaOffence #forextrading #forexmarket #OzgLawyers #OzgLaw #forextraining #forexinvestor #FEMAconsultation #FemaCompliance #FemaConsultant #ozgfinance #forexsignals #forexinvestment #ExportBillSettlement #FcraConsultant #OzgLawyer #LRSScheme #bankaccount #CreditCardHolder #femaviolation

Ozg Lawyers: FEMA Advisory


Maintenance (Financial Protection) to Hindu Wife under Indian Law: Ozg Lawyers

 


1️⃣
Hindu Marriage Act, 1955
2️⃣
Hindu #Adoptions & Maintenance Act, 1956
3️⃣
Section 125 of the CrPC, 1973
4️⃣
Protection of Women from Domestic Violence (PWDV) Act, 2005
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1️⃣
Hindu Marriage Act, 1955
📌
Sections 24 and 25 make provision for maintenance to a party who has no independent income sufficient for his or her support, and necessary expenses. This is a gender-neutral provision, where either the wife or the husband may claim maintenance. The prerequisite is that the applicant does not have independent income which is sufficient for her or his support during pendency of case.
📌
Section 24 of the #HinduMarriage Act, 1955 provides for maintenance pendente lite, where the Court may direct the respondent to pay the expenses of the proceeding, and pay such reasonable monthly amount, which is considered to be reasonable, having regard to the income of both the parties. The proviso to Section 24 providing a time line of 60 days for disposal of the application was inserted vide Act 49 of 2001 w.e.f. 24.09.2001.
📌
Section 26 of the #HinduMarriageAct, 1955 provides that the Court may from time to time pass interim orders with respect to the custody, maintenance and education of the minor children.
2️⃣
Hindu Adoptions & Maintenance Act, 1956:
📌
This is a special legislation which was enacted to amend and codify the laws relating to adoption and maintenance amongst #Hindus, during the subsistence of the marriage.
📌
Section 18 provides that a Hindu wife shall be entitled to be maintained by her husband during her lifetime. She is entitled to make a claim for a separate residence, without forfeiting her right to maintenance. Section 18 read in conjunction with Section 23 states the factors required to be considered for deciding the quantum of maintenance to be paid. Under sub-section (2) of Section 18, the husband has the obligation to maintain his wife, even though she may be living separately. The right of separate residence and maintenance would however not be available if the wife has been #unchaste, or has #converted to another religion.
3️⃣
#Section125 of the CrPC, 1973
The purpose and object of Section 125 CrPC is to provide immediate relief to an applicant. An application under Section 125 CrPC is predicated on two conditions:
📌
The husband has sufficient means; and neglects to maintain his wife, who is unable to maintain herself. In such a case, the husband may be directed by the Magistrate to pay such monthly sum to the wife, as deemed fit. Maintenance is awarded on the basis of the financial capacity of the husband and other relevant factors.
📌
Under sub-section (2) of Section 125, the Court is conferred with the discretion to award payment of maintenance either from the date of the order, or from the date of the application.
📌
Under the third proviso to the amended Section 125, the application for grant of interim maintenance must be disposed of as far as possible within sixty days’ from the date of service of notice on the respondent.
To schedule your tele-appointment with Ozg Lawyers, please visit to link below.
4️⃣
Protection of Women from Domestic Violence (PWDV) Act, 2005
The PWDV Act provides relief to an aggrieved woman who is subjected to “domestic violence.”
📌
1. Sections 17 and 19 grant an entitlement in favour of an aggrieved woman to the right of residence in a “shared household”, irrespective of her having any legal interest in the same or not. From the definition of “aggrieved person” and “respondent”, it is clear that :
(a) it is not the requirement of law that the aggrieved person may either own the premises jointly or singly, or by tenanting it jointly or singly;
(b) the household may belong to a joint family of which the respondent is a member, irrespective of whether the respondent or the aggrieved person has any right, title, or interest in the shared household;
(c) the shared household may either be owned, or tenanted by the respondent singly or jointly.
📌
2. The right to residence u/s 19 is, however, not an indefeasible right, especially when a daughter-in-law is claiming a right against aged parents-in-law. While granting relief u/S. 12 of the PWDV Act, or in any civil proceeding, the court has to balance the rights between the aggrieved woman and the parents-in-law.
📌
3. Section 20(1)(d) provides that maintenance granted under the PWDV Act to an aggrieved woman and children, would be given effect to, in addition to an order of maintenance awarded under Section 125 of the CrPC, or any other law in force.
📌
4. Under sub-section (6) of Section 20, the Magistrate may direct the employer or debtor of the respondent, to directly pay the aggrieved person, or deposit with the court a portion of the wages or salaries or debt due to or accrued to the credit of the respondent, which amount may be adjusted toward the monetary relief payable by the respondent.
📌
5. Section 22 of PWDV Act provides that the Magistrate may pass an order directing the respondent to pay compensation and damages for the injuries, including mental torture and emotional distress, caused by the acts of domestic violence perpetrated by the respondent.
📌
6. Section 26 of the #PWDV Act provides that any relief available under Sections 18, 19, 20, 21 and 22 may also be sought in any legal proceeding before a Civil Court, Family Court or Criminal Court.
📌
7. Section 36 provides that the PWDV Act shall be in addition to, and not in derogation of the provisions of any other law for the time being in force.
To schedule your tele-appointment with Ozg Lawyers, please visit to link below.
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