Amendments proposed to Prevention of Money Laundering Act, 2002

The major amendments proposed to Prevention of Money-laundering Act, 2002 through Finance Act, 2018 are as follows :

  1. Amendment in definition of “proceeds of crime”
  2. Amendment in bail provisions
  3. Corporate frauds included as Scheduled offence
  4. Measures to enhance effectiveness of investigations
  5.  More days for investigation before prosecution is filed
  6.  Clear guidelines to share the information relating to contraventions of other laws noticed during investigation by ED
  7. Measures for restoration of property of persons adversely affected by PMLA investigation

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L&P Editorial Team

The Law & Practice Blog's editorial team.

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