The Prevention of Money Laundering Act (PMLA) is a comprehensive penal law designed to combat the risk of money laundering, particularly as it relates to the trade in illicit drugs. The Act was passed in 2002 as a result of India’s commitment to fighting the worldwide threat of money laundering, including its ratification of the Vienna Convention. The PMLA (Amendment) Act of 2012 expanded the scope of money laundering by classifying certain actions as crimes, including concealing, acquisition, possessing, and using the proceeds of crime. Click on the “Download PDF” option provided below to know more on-
- What is the Prevention of Money Laundering Act?
- What are the various international conventions and instruments it deals with?
- What are the conditions under Section 45(1) of the PMLA?
- What are the other Acts which place similar restrictions?
- What is money laundering?
- What are the problems related to this law?