Impact of regulatory compliance on the banking industry in India

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Jadhav, Sameer
Issue Date
MBA in Finance
Dublin Business School
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The financial crisis of 2008 shook the whole banking world over the globe. All the flaws in the banking system were identified open in front of the world. It was one of the most devastating scenario which changed the way banks were working. Financial crimes which were carried out due to lack of due diligence and greed for more and more money in between the bankers. The term financial crimes like tax evasion and fear based oppression financing attacked the financial industry, path before the advancement of AML/CFT space occurred in the money related foundations. Financial crimes were transforming into a verifiably basic issue over the previous years. Banking Industry and Government are finding new strategies and methods to apply over the current AML/CFT approaches to battle against these violations. Post the production of between administrative body for example Monetary Action Task Force and the laws relating to hostile to illegal tax avoidance entered the financial region to alleviate and battle against the ML/TF exercises. The "name and disgrace" system assumed an indispensable job in the money related organizations of these nations, which ensured that they consent to the structures of AML/CFT to stay away from any setback because of ML/TF movement. The research study analyzes in detail how by following every one of the strategies and systems, AML consistence is helping banks to battle against the hazard presented by budgetary violations. The significant diaries, articles and company reports were dissected to set up the meeting poll. The subjective examination performed by talking to AML experts gave direct knowledge into the financial part. The principle point of the investigation is to comprehend the positive effect of AML Compliance in the financial industry.