Question
What is the minimum term of rigorous imprisonment
prescribed under Section 4 of PMLA for the offence of money-laundering?Solution
Section 4 of PMLA, 2002 prescribes that whoever commits the offence of money-laundering shall be punishable with rigorous imprisonment for a term which shall not be less than three years but which may extend to seven years, and shall also be liable to a fine which may extend to five lakh rupees. The minimum is three years and the maximum is seven years in ordinary cases. However, as per the proviso to Section 4, where the proceeds of crime relate to any offence specified under Paragraph 2 of Part A of the Schedule (i.e., NDPS Act offences), the maximum imprisonment is extended to ten years. The sentence is 'rigorous imprisonment,' not simple imprisonment, emphasising its gravity as a serious economic offence.
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