competition success review Published this article page no 146 The frequency and timings of these raids and arrests have raised concerns over the independence of PMLA and its agency the Enforcement Directorate (ED).According to Some activists PMLA and ED are misused to attack opposition camps with political embarrassment. 147 Major AllegationsThe law is being Used for Ordinary Crimes.Lack of Transparency and Clarity The Enforcement Case Information Report (ECIR) an equivalent of the FIR is considered an internal document and not given to the accused. What is Money Laundering? Money laundering is defined as the illegal process of converting money generated through criminal activities such as drug trafficking or terrorist funding to appear to have come from a legitimate source. The money from the criminal activity is considered dirty and the laundering process makes it look clean. About the Prevention of Money Laundering Act It was enacted as a response to Indias global commitment (including the Vienna Convention) to curb the menace of money laundering. Objectives of the Act PMLA was enacted in 2002 and it came into force in 2005 to curb money laundering (process of converting black money into white) and to provide for seizure of property derived from moneylaundering. There are mainly 3 objectives of PMLA 1. To prevent and control money laundering. 2. To confiscate and seize the property obtained from the laundered money. 3. To deal with any other issue connected with money laundering in India. Dispute redressal competition success review buy.
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