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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Saumya Snehal

Saumya Snehal is a 3rd year BBA LLB student at Chanakya National Law University. Always a bibliophile, she loves to read, research and write on anything and everything legal. She has a insatiable appetite for knowledge and explores the same through indulging in various internships so that to constantly grow and become a better version of herself. She especially has an interest in corporate law and social legislations.

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