Question

Under the PMLA, the offence of money laundering can attract proceedings even where the proceeds of crime are held in which form?

Q: Answer-Under the PMLA, the offence of money laundering can attract proceedings even where the proceeds of c...

Under the Prevention of Money Laundering Act, proceeds of crime include any property derived from criminal activity relating to a scheduled offence, whether held within India or abroad, and where such property is taken or held outside the country, property equivalent in value held within India may be attached. This wide reach ensures that offenders cannot escape the Act by holding proceeds in different forms or jurisdictions. It strengthens the ability of the authorities to trace and confiscate criminal proceeds.