class or group of cases as may be specified in the notification. FIU-IND Financial Intelligence Unit – India (FIU-IND) was set by the Government of India on 18 November 2004 as the central national agency responsible for receiving, processing, analyzing and disseminating information relating to suspect financial transactions. FIU-IND is also responsible for coordinating and strengthening efforts of national and international intelligence, investigation and enforcement agencies in pursuing the global efforts against money laundering and related crimes. FIU-IND is an independent body reporting directly to the Economic Intelligence Council (EIC) headed by the Finance Minister. Criticism In July 2022, according to data shared by the Union government in Parliament, only 23 people have been convicted in 5,422 cases registered under the Prevention of Money Laundering Act (PMLA) in the 17 years after the law was passed—a conviction rate of less than 0.5%. Due to low conviction rate and the people against which the PMLA has been applied in last few years, lawyers argue that the PMLA is invoked against a political rival or a dissenter, because the “process is itself the punishment”. The accused does not even know what allegations are put against them. 2022 Supreme Court Judgement On 27 July 2022, The Supreme Court of India upheld the provisions of the act and retained the powers of the Enforcement Directorate under the PMLA, which was criticized for putting the personal liberty of citizens at risk by the undue process allowed by the provisions of PMLA. On 22 August 2022, Supreme Court accepted a petition to review its 27 July 2022 judgement which upheld core amendments made to the Prevention of Money Laundering Act (PMLA). On 25 August 2022, Supreme Court said that two provisions, not providing a copy of the Enforcement Case Information Report to the accused, and reversal of the presumption of innocence, need reconsideration. Similar laws in other countries Money Laundering Control Act of 1986 This is an Act of the United States Congress that made money laundering a Federal crime. It criminalized money laundering for the first time in the United States. Established money laundering as a federal crime Prohibited structuring transactions to evade CTR filings Introduced civil and criminal forfeiture for BSA violations and other violations. Directed banks to establish and maintain procedures to ensure and monitor compliance with the reporting and record keeping requirements of the BSA See also List of Acts of the