The committee concluded that the definition of payment system in PMLA is a standalone definition and not linked with the PSS Act.

Non-profit organisations (NPOs) will now face intense scrutiny under the Prevention of Money Laundering Act (PMLA) as the Finance Ministry has now brought two key changes in rules related to ...

The Court was dealing with a review plea filed by Congress MP Karti Chidambaram that challenged a July 2022 judgment of the Supreme Court, which had upheld various provisions of the PMLA.

To clamp down on benami activities and operations of shell companies, the Centre has further amended rules under the Prevention of Money Laundering Act, amending the definition of "beneficial ...

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“I also doubted that this act would be used against the opposition,” said Pawar while speaking at the release of a book titled Narkatil Swarg (Heaven in Hell) written by the Shiv Sena UBT MP ...

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Govt tightens PMLA rules, fine-tunes definition of reporting entity. Changes bring more power to agency, widen scope of individuals under ambit of Act. New rules require disclosure of status of ...

This means that exchanges, custodians, wallet providers, among others in crypto-related trade will fall under the Prevention of Money Laundering Act. Also, the ministry modified the definition of ...

FinMin tightens definition of beneficial owners under PMLA The amended rules were notified on March 7 by the Finance Ministry. Under the anti-money laundering law, 'reporting entities' are banks and ...

Introduction Properties attached under the Prevention of Money Laundering Act (PMLA) cannot be treated as proceeds of crime if the predicate or scheduled offense is quashed by a competent court ...