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Prevention of Money Laundering

Overview
- Objectives
- Statustory Frame Work
Institutional Framework
- ED (Enforcement Department)
- Financial Intelligence Unit - India (FIU-IND)
Adjudicating Authority
>Applellate Tribunal
Performance
- STR (Suspicious Transaction Reports)
International Cooperation
Tackling Black Money

Objective

The PML Act seeks to combat money laundering in India and has three main objectives:

·        To prevent and control money laundering
·        To confiscate and seize the property obtained from the laundered money; and
·        To deal with any other issue connected with money laundering in India.
The Act also proposes punishment under sec.4.

Last updated 15 September 2011 - 1:13pm

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