DRUG TRAFFICKING: A MAJOR SOURCE OF MONEY LAUNDERING IN INDIA

Drug Trafficking is a major source of money laundering in India and affects the economy negatively. The purpose of this paper is to show how illicit drug trafficking leads to money laundering in India. The paper comprises of both primary sources and secondary sources of research. Doctrinal research has also been used by referring to various library databases for the in-depth analysis of this issue. The paper will try to answer whether drug trafficking is a major source of money laundering in India. Illicitdrug trafficking affects the economy as a whole and there are provisions set in place bythe Government of India to deal with the issue of drug trafficking with the help of various statutes like Narcotic Drugs and Psychotropic Substance Act, 1985 and Prevention of Money Laundering Act, 2002. The researcher hopes that this study will bring some light on the issue of money laundering and drug trafficking for better enforcement of laws in place to prevent illicit drug trafficking