As of my last knowledge update in January 2022, efforts to combat money laundering in India involve a combination of legislative measures, regulatory frameworks, and enforcement actions. Keep in mind that the situation may have evolved since then. Here are key components of the crackdown on money laundering in India:

1. Legislation and Regulatory Framework:
   • Prevention of Money Laundering Act (PMLA): The PMLA is the primary legislation in India aimed at preventing money laundering and combating the financing of terrorism. It provides a legal framework for the investigation and prosecution of money laundering offenses.
2. Financial Intelligence Unit-India (FIU-IND):
   • The FIU-IND is the nodal agency responsible for receiving, processing, analyzing, and disseminating information relating to suspect financial transactions to enforcement agencies and foreign financial intelligence units.
3. Know Your Customer (KYC) Norms:
   • Financial institutions and other entities are required to adhere to stringent KYC norms to verify the identity of their customers. This includes collecting and verifying customer information and monitoring transactions for unusual or suspicious activity.
4. Reporting Obligations:
   • Various entities, including banks, financial institutions, and intermediaries, have reporting obligations under the PMLA. They are required to report certain types of transactions to the FIU-IND, especially those that are deemed suspicious.
5. Enforcement Agencies:
   • Enforcement agencies, such as the Directorate of Enforcement (ED) and other law enforcement agencies, play a crucial role in investigating and prosecuting cases related to money laundering.
6. Global Cooperation:
   • India collaborates with international organizations and other countries to share information and intelligence related to money laundering. This includes participating in global efforts to combat money laundering and terrorism financing.
7. Asset Forfeiture:
   • The authorities may seize and forfeit assets acquired through illegal means. Asset forfeiture is a deterrent and a way to recover illicitly gained wealth.
8. Upgrading Technology:
   • The use of advanced technology and data analytics has become increasingly important in detecting and preventing money laundering. Financial institutions are investing in technology to enhance their ability to identify suspicious transactions.
9. Regular Audits and Inspections:
   • Regulatory bodies conduct regular audits and inspections of financial institutions to ensure compliance with anti-money laundering regulations. Non-compliance can lead to penalties and other punitive actions.
10. Public Awareness Campaigns:
    • Public awareness campaigns are conducted to educate people about the risks and consequences of money laundering. This includes informing the public about the importance of reporting suspicious transactions.

It’s important to note that the effectiveness of these measures depends on their proper implementation, enforcement, and the adaptability of the regulatory framework to evolving trends in money laundering. The regulatory landscape may have seen changes or updates since my last update, so it’s advisable to check for the latest developments in India’s efforts to combat money laundering