proceeds of crime Archives - Chinmaya IAS Academy

PMLA: Combating Money Laundering and Financial Crimes

April 8, 2024 Current Affaris, Economics, Economy, Editorials, federal issue, Governance, Government Budgeting, Government Issues, Government Policy, Indian Economy, Indian society, National Affairs, National Issues, policy issue, Schemes, Security, TNPSC, Union Budget 0

Concept : The Prevention of Money Laundering Act (PMLA), enacted by the Indian government, targets money laundering and associated financial offenses. Enacted in 2002, the PMLA aims to prevent and control money laundering activities and confiscate proceeds of crime derived from illicit activities. Key Provisions: Offences and Penalties: The PMLA …