Financial Intelligence Unit, India’s anti-money laundering agency, wants to examine real estate deals. It has asked states to submit monthly data on registration of properties, a state government official, who did not wish to be identified.
Often the real estate deals in the country involves unaccounted cash transactions leading to money laundering, the official said. Money laundering involves disguising financial assets in a way that they can be used without detection of the illegal activity that produced them. Through money laundering, the launderer transforms the monetary proceeds derived from illegal activities into funds with an apparently legal source.
Times of India