Prevention Of Money Laundering Act, 2002 - A Commentary

Author: Somesh Arora
Year: 2021

Prevention of Money Laundering Act, 2002 – A Commentary is developed to be a ready reference on the subject in view of the changing dimensions of money-laundering. It analyses the law and practice of prevention of money-laundering in India in light of the legislative framework governing it and the judicial precedent developed over the years. The commentary aims to equip the practitioners with the necessary information on the subject to assist them in advising and representing their clients.

The chapters in the book trace the evolution of the Prevention of Money Laundering Act, 2002 and explain the various amendments that have been made to it through the years. The section-wise commentary lucidly explains the provision along with the relevant rules and judicial pronouncements. The book also discusses the international efforts made towards prevention of money-laundering and the role that the Financial Action Task Force (FATF) has played in ensuring global cooperation. In the last chapter the author has delineated, based on his experience with the subject, useful and practical tips for investigators and the defence counsels. The book also provides the Act, Rules and select Notifications as annexures for the easy reference of the readers.