$1.8 trillion
Areas
Funds available with global terrorist groups, money channelised through hawala transactions, and rupees earned from tax evasion, smuggling, narcotics and gun-running
UNITED STATES
Nearly 47 per cent of money is laundered by unregulated agents like pawnbrokers, credit card firms and precious metal traders
INDIA
The Act does not cover all the areas of the black economy like smuggling, terrorism funds and hawala transactions
The Business Potential
1. A boon for software firms since all banks and financial institutions will need to put in place the right software to track funds
2. In the US itself, banks will spend $10.9 billion between 2003 and 2005 on anti-money laundering technologies.
