Hayat Ashraf

The Punjab and Haryana High Court has made it clear that courts can order release of an accused under police custody without fulfilling twin conditions as mandated under the PMLA, 2002.  What is Money Laundering? PMLA defines money laundering as an act of directly or indirectly attempting to indulge or knowingly assisting or knowingly being a party or actually involved in concealing, possessing, acquiring, using, projecting as untainted property, or claiming as untainted property, in any manner whatsoever, the proceeds of crime. It is defined as the process through which an illegal fund, such as black money, is obtained from illegal activities and disguised as legal money, eventually portrayed as white money.  About Prevention of Money Laundering Act (PMLA), 2002:  It is an act to prevent money laundering and to provide for the confiscation of property derived from or involved in money laundering. The Act was formulated for the following objectives:  P...