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      Question

      The PMLA came into force with effect from which

      date?
      A 1st January 2003 Correct Answer Incorrect Answer
      B 1st July 2002 Correct Answer Incorrect Answer
      C 1st July 2005 Correct Answer Incorrect Answer
      D 1st June 2005 Correct Answer Incorrect Answer
      E 1st April 2005 Correct Answer Incorrect Answer

      Solution

      The Prevention of Money Laundering Act came into force with effect from 1st July 2005, although it was enacted in 2002. The delay between enactment and enforcement allowed for the framing of rules and the setting up of the necessary administrative machinery. Upon coming into force, the Act provided the legal framework for investigating money laundering, attaching and confiscating proceeds of crime, and prosecuting offenders, marking a significant step in India's anti-money-laundering regime.

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