Section 2 of PMLA : Section 2: Definitions

PMLA

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Explanation using Example

Imagine a scenario where a business owner is suspected of engaging in illegal activities, such as drug trafficking. The profits from these activities are believed to be laundered through a series of complex financial transactions involving multiple bank accounts and real estate purchases. The Enforcement Directorate (ED) initiates an investigation under the Prevention of Money-Laundering Act (PMLA), 2002.

The ED identifies properties and bank accounts they believe are the "proceeds of crime" as defined in Section 2(1)(u) of the PMLA. The ED decides to "attach" these asset...

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