Cyber-enabled financial crime has emerged as the new frontier of global money laundering. Discuss. How can the government address this issue?

Cyber-enabled financial crime is defined as use of cyber-space to commit crime & launder money. New Frontier of Global Money Laundering: (1) Helps in Layering: Concealment of black money in financial system (2) Aids Cyber Extortion: Committed in cyber space. (Eg: Cyber crime) (3) Hide Proceeds of Crime: By layering money in tax havens or illegal asset Money Laundering Diagram: - Placement (Asset Placement) - Layering (Layering, Integration) - Integration (Fig: Money Laundering Stages) Addressed by Court (Legal Measure): 1.1. Strict enforcement of laws. (Eg: PMLA) 1.2. Regular updation of law (Eg: PMLA Amendment to include CA, CPA) (2) Enforcement Measures: 2.1. Complex Role to CERT-In: To investigate cyber crime under section 70, IT Act 2.2. Mac-Tech to ED: To investigate & punish users 65-bail difficult 2.3. Global Cooperation: To detect & deter money launders. (Eg: FATF) Money Laundering is a hydra's head & all must be cut comprehensively to ensure financial & cyber security in India's