Under the PMLA, the term 'money laundering' essentially

Solution

Under Section 3 of the Prevention of Money Laundering Act, the essence of money laundering is dealing with the proceeds of crime in a manner that projects or claims them as untainted, that is, legitimate property. The process typically involves concealing the criminal origin of funds and integrating them into the legitimate economy. By criminalising the projection of tainted property as untainted, the Act targets the core mechanism by which criminals seek to enjoy and use the proceeds of their crimes.