Title: Money Laundering, MoneyLaundering.legal, Anti Money Laundering, Anti Money Laundering law, AML, Moneylaundering, PMLA
Headings: 
Indian Anti Money Laundering Laws
The Prevention of Money Laundering Act, 2002 (PMLA)
Introduction
Background
Scope
Offence of Money Laundering
Maintenance of Records & KYC Under PMLA
Financial Intelligence Unit - India
Attachment of Property under PMLA
Arrest Under PMLA
Bail under PMLA
Summon, Survey & Search
Seizure of Property & Records under PMLA
Interconnected Transactions
Onus of Proof
Appellate Authority
Special Court
Offenses of Cross-Border Implications
By
Vijay Pal Dalmia, Advocate
Supreme Court of India & Delhi High Court
Email id: vpdalmia@gmail.com
Mobile No.: +91 9810081079
Linkedin: https://www.linkedin.com/in/vpdalmia/
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Content: The punishment for the crime includes a minimum sentence of at least 3 years which may extend to 7 years and includes a fine for the guilty. The punishment may further extend to 10 years in prison if the crime associated with the laundered money involves narcotics. PMLA does not provide for any limitation period for the crime of money laundering. There are no codified defenses against the offence of money laundering apart from the lack of knowledge argument under common law. The, plea bargaining is not available to defendants accused of the offence under section 3 of PMLA. Scope
The Prevention of Money Laundering Bill was introduced in the Lok Sabha in 1998 which passed in 2003 and finally implemented in 2005. It has gone through various amendments with the last one being in 2019. Administration and enforcement authorities and agents are appointed under PMLA to implement its provisions and rules. Wide powers are assigned, which are very similar to those granted to the civil courts of the country, to exercise the provisional attachment of properties which are involved in the offence under PMLA. They are also enforced to issue summons, conduct searches and arrests, and seize evidence and records.