Under the PMLA, the value of proceeds of crime held

Solution

Under the Prevention of Money Laundering Act, where the proceeds of crime are taken or held outside India, the Act permits the attachment of property of an equivalent value located within India. This mechanism ensures that offenders cannot defeat the Act simply by transferring proceeds abroad. By allowing the attachment of equivalent-value property within the country, the Act preserves the ability of the authorities to ultimately confiscate value corresponding to the proceeds of crime, even in cross-border situations.