Question
Which authority has the power to attach property
believed to be involved in money laundering under the PMLA, 2002?Solution
Under Section 5 of the PMLA, the Director or an officer not below the rank of Deputy Director of the Enforcement Directorate (ED) has the authority to provisionally attach property if there is a reason to believe it is involved in money laundering. This attachment is for 180 days and must be confirmed by the Adjudicating Authority.
PAN is compulsory if the amount exceeds,
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