Prevention of Money Laundering
- Institutional Framework
- Adjudicating Authority
- Applellate Tribunal
- International Cooperation
- Tackling Black Money
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.