Under the PMLA, the cross-border implications of money

Solution

Under the Prevention of Money Laundering Act, provisions exist for reciprocal arrangements and cooperation with contracting States and foreign authorities for matters such as the transfer of accused persons, the taking of evidence, and the attachment and confiscation of property located abroad. Given the often transnational nature of money laundering, international cooperation is essential. The Act provides the legal basis for India to assist and seek assistance from other countries in investigating and prosecuting money laundering.