Analysis of prevention of money laundering act, 2002. Ppt prevention of money laundering act, 2002 powerpoint presentation free to view id. Moneylaundering maintenance of records rules, 2005. An act to prevent moneylaundering and to provide for confiscation of property derived. Policy framed based on prevention of money laundering act, 2002, the rules framed there under and circulars issued by regulatory authorities. The prevention of money laundering act, 2002 lawyers. Prevention of money laundering act, 2002 was a major step taken by indian government for tracing and stopping fraudulent monetary activities but despite of this step a lot of scams happened in country. National institutes of technology act, 2007 right of children to free and compulsory education act, 2009. The prevention of moneylaundering bill having been passed by both the houses of parliament received the assent of the president on 17th january, 2003.
Tell a friend about us, add a link to this page, or visit the webmasters page for free fun content. Section 8 in the prevention of moneylaundering act, 2002. It came on the statute book as the prevention of money laundering act, 2002 15 of 2003. Prevention of money laundering act, 2002 is also commonly known as pmla 2002. Overview of prevention of money laundering act, 2002.
Prevention of money laundering act 2002 bankexamstoday. The prevention of money laundering act, 2002 with amendments of 2008 bill act no. The following act of parliament received the assent of the. Pdf form based utilities to capture data and print the report as per the specified format. The prevention of money laundering act, 2002 enables the. Ppt prevention of money laundering act, 2002 powerpoint. Prevention of money laundering act, 2002 was enacted to fight against the criminal offence of legalizing the incomeprofits from an illegal source. Get prevention of money laundering act 2002 microsoft store. Indian prevention of money laundering act 2002 pmla latest. The parliament has enacted the prevention of money laundering act. The prevention of moneylaundering act, 2002 15 of 2003.
The prevention of money laundering amendment act, 2005. Prevention of money laundering act, 2002 wikipedia. The asian development bank and the organisation for economic cooperation and development do not guarantee the accuracy of this document and accept no. Money laundering prevention act, 2012 bangladesh customs. Master circular on know your customer kyc standards. The prevention of moneylaundering act, 2002 was enacted to prevent moneylaundering and to provide for confiscation of property derived from, or. Rules regulations notifications orders circulars statutory ordinance statutes. Prevention of money laundering act 2002 is available for download at the excellent download file is in the format of pdf. To view this article you need a pdf viewer such as adobe reader.
The prevention of money laundering act, 2002 pmla forms the core of the legal framework put in place by india to combat money laundering. Prevention of moneylaundering act, 2002 india code. The prevention of moneylaundering act 2002 book pdf is free and available for everyone to download as a pdf. Section 3 in the prevention of moneylaundering act, 2002 3. Prevention of money laundering act, 2002 for ca final,cma. This act applies to the whole of india and it came into force with effect from 1 st july 2005. An act 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.
The legal framework in india to deal with money laundering. Prevention of money laundering act, 2002 is an act of the parliament of india enacted by the nda government to prevent moneylaundering and to provide for confiscation of property derived from. Act 15 of 2003 the prevention of money laundering bill having been passed by both the houses of parliament received the assent of the president on 17th january, 2003. Prevention of money laundering act, 2002 is an act of the parliament of india enacted by the. Prevention of moneylaundering amendment act, 2009, w. Act 2002 cannot fit in the framework of an ordinary statute. In india, the specific legislation dealing with money laundering is the prevention of moneylaundering actpmla, 2002. Whosoever directly or indirectly attempts to indulge or knowingly assists or knowingly is a party or is actually. Register now for your free, tailored, daily legal newsfeed service. The prevention of money laundering act, 2002 pmla 2002 forms the core of the legal framework put in place by india to combat money laundering. Indian prevention of money laundering act 2002 pmla. Prevention of money laundering act, 2002 wikimili, the.
The prevention of moneylaundering act 2002 book pdf. Master circular on know your customer kyc normsantimoney laundering aml standardscombating financing of terrorism cftobligation of banks and financial institutions. Frequently asked questions on the prevention of money. An act lo prevent moneylaundering and to provide for confiscation of property derived from, or involved in, moneylaundering and for matters connected therewith or incidental thereto. Acts xxxi of 2001, iii of 2002, and iii and xiii of 2004. Students taking ca final exams or students preparing for corporate and allied laws will find the file very useful. The prevention of money laundering act, 2002 has come into effect from 1 st july 2005. The prevention of money laundering act, 2002 came into force with effect from 1st july, 2005. Section 3 in the prevention of moneylaundering act, 2002. The act was amended by the prevention of money laundering amendment act 2009 w. Pmla defines money laundering offence and provides for the freezing, seizure and confiscation of the proceeds of crime.