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The possibility of Money laundering in the real estate sector is estimated to be at a high level. Therefore there is an immediate need for a regulatory body to maintain an account for such activities. The real estate for long has been the preferred choice for criminals when it comes to hiding the ill-gotten money. One of the oldest known ways to illegally transfer the proceeds between the parties to a deal is by manipulating the prices.
The findings have confirmed that Indian real estate sector has been used as a groove for fraud or illegitimate financial deals. Many unlawful activities such as tax fraud, money laundering are vulnerably happening within the Indian real estate market.
With the increasing ill practices within this sector the real estate developers, brokers and dealers require a regulatory mechanism to track such happenings. A system well planned one which is under some kind of in-house regulation. Other sectors like the banking and commerce have their own functional body to track the illegal money laundering. The telecom sector has also underwent the a strong vigilance with the 2g scams happening and now it’s the real estate sector which is in an immediate need for a regulatory rule enforcement to handle the money laundering activities.
As per the statistics the money laundering activities has been increased in a drastic level. This has been happening over the past few years. India has been one of the five popular countries to invest and the rising economic stress is giving higher opportunities to dig the money deep hidden in the real estate market.
The findings have confirmed that Indian real estate sector has been used as a groove for fraud or illegitimate financial deals. Many unlawful activities such as tax fraud, money laundering are vulnerably happening within the Indian real estate market.
With the increasing ill practices within this sector the real estate developers, brokers and dealers require a regulatory mechanism to track such happenings. A system well planned one which is under some kind of in-house regulation. Other sectors like the banking and commerce have their own functional body to track the illegal money laundering. The telecom sector has also underwent the a strong vigilance with the 2g scams happening and now it’s the real estate sector which is in an immediate need for a regulatory rule enforcement to handle the money laundering activities.
As per the statistics the money laundering activities has been increased in a drastic level. This has been happening over the past few years. India has been one of the five popular countries to invest and the rising economic stress is giving higher opportunities to dig the money deep hidden in the real estate market.
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