The Prevention of Money Laundering Act was enacted in

Solution

The Prevention of Money Laundering Act was enacted in 2002 and came into force on 1st July 2005. It was enacted to prevent money laundering and to provide for the confiscation of property derived from or involved in money laundering. The Act was a response to India's international commitments, including those arising from the Financial Action Task Force (FATF) recommendations and various United Nations conventions. It forms the principal legislation against money laundering in India.