Prevention of Money Laundering Act 2002 (PMLA)

PMLA

This Act is intended to prevent money-laundering and to provide for confiscation of property derived from, or involved in, money-laundering and for matters connected therewith or incidental thereto. Money laundering refers to the process of taking illegally obtained money and making it appear to have come from a legitimate source. It involves putting the money through a series of commercial transactions in order to “clean” the money. PMLA is implemented in India by the Enforcement Directorate (ED).

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