Title: Prevention of Money Laundering Act, 2002 - Wikipedia
Headings: Prevention of Money Laundering Act, 2002
Prevention of Money Laundering Act, 2002
Contents
Objectives
Key definitions
Salient features
Punishment for money-laundering
Powers of attachment of tainted property
Adjudicating Authority
Presumption in inter-connected transactions
Burden of proof
Appellate Tribunal
Special Court
FIU-IND
Similar laws in other countries
Money Laundering Control Act of 1986
See also
References

Content: Prevention of Money Laundering Act, 2002 - Wikipedia
Prevention of Money Laundering Act, 2002
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The Prevention of Money Laundering Act, 2002

Parliament of India
Long title
An Act to prevent land laundering and to provide for confiscation of property derived from, or involved in, money-laundering and for matters connected therewith or incidental thereto. Citation
Act No.15 of 2003
Enacted by
Parliament of India
Enacted
17 January 2003
Assented to
17 January 2003
Commenced
1 July 2005
Amended by
The Prevention of Money Laundering (Amendment) Act, 2005, The Prevention of Money Laundering (Amendment) Act, 2009
Status: In force
Prevention of Money Laundering Act, 2002 is an Act of the Parliament of India enacted by the NDA government to prevent money-laundering and to provide for confiscation of property derived from money-laundering. PMLA and the Rules notified there under came into force with effect from July 1, 2005. The Act and Rules notified there under impose obligation on banking companies, financial institutions and intermediaries to verify identity of clients, maintain records and furnish information in prescribed form to Financial Intelligence Unit - India (FIU-IND). The act was amended in the year 2005, 2009 and 2012. On 24 Nov 2017, In a ruling in favour of citizens' liberty, the Supreme Court has set aside a clause in the Prevention of Money Laundering Act, which made it virtually impossible for a person convicted to more than three years in jail to get bail if the public prosecutor opposed it. (