PMLA

The Prevention of Money Laundering Act is a comprehensive legislative framework designed to prevent money laundering and provide for the confiscation of property derived from or involved in money laundering, while regulating processes related to the proceeds of crime.

Why it matters

Establishes a legal mechanism to criminalize the integration of illicit funds into the formal financial system.
Empowers designated authorities to conduct investigations, search, seizure, and attachment of assets linked to scheduled offenses.
Facilitates international cooperation and mutual legal assistance in tracking and recovering proceeds of crime across jurisdictions.
Strengthens the integrity of the financial sector by imposing reporting obligations on financial institutions and intermediaries.

How it is asked

Focus on the definition of 'proceeds of crime', the scope of 'scheduled offenses', the powers of the adjudicating authority, and the balance between investigative autonomy and judicial oversight.

In the syllabus

In the news

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