Fema / RBI : RBI's KYC framework mandates customer identification, risk categorization, and ongoing monitoring to combat money laundering and t...
Corporate Law : The Court examined whether a predicate FIR is necessary before the ED can act under the PMLA. It held that inquiry proceedings and...
Fema / RBI : Individuals who receive or transfer funds on behalf of others may face prosecution under various Indian laws. The article explains...
Corporate Law : Organized crime disrupts fair competition by introducing illegal goods and laundering illicit funds. The analysis highlights its d...
Corporate Law : This examines whether recent rulings have strengthened or softened bail standards under PMLA. The key takeaway is that courts are ...
Finance : The agreements introduce structured protocols for intelligence sharing and monitoring compliance under PMLA. The ruling highlights...
Corporate Law : FIU-IND imposed a ₹9.27 crore penalty on Bybit for violating PMLA compliance. The platform operated without registration, leadin...
Corporate Law : Bombay High Court directs Enforcement Directorate to regulate statement recording hours under PMLA, emphasizing same-day examinati...
Corporate Law : Read about the Directorate of Enforcement's (ED) search operations under PMLA at 14 locations in Haryana and Punjab, uncovering ca...
Finance : Discover India exceptional performance in the FATF Mutual Evaluation 2023-24, placing it in the 'regular follow-up' category and b...
Corporate Law : Supreme Court granted bail under the PMLA, noting prolonged custody, documentary evidence, delayed trial, parity with co-accused, ...
Corporate Law : Supreme Court set aside the High Court's PMLA bail order for failure to apply Section 45 twin conditions and remanded the matter f...
Corporate Law : Karnataka HC refused to cancel bail, holding that the Section 45(1) PMLA proviso exempts women from the twin conditions, subject t...
Income Tax : Orissa HC permitted surrender and directed same-day bail consideration under a strict first hour-second hour timeline, applying pa...
Corporate Law : Karnataka HC granted PMLA bail after 275 days’ custody, holding Article 21 prevailed where trial had not progressed and delay wa...
Corporate Law : The Centre has permitted Home First Finance Company India Ltd. to perform Aadhaar authentication under Section 11A of the PMLA aft...
Corporate Law : The Finance Ministry has permitted seven reporting entities to conduct Aadhaar authentication under Section 11A of the PMLA. The n...
Corporate Law : NRIs and OCIs can now digitally onboard to NPS with relaxed physical presence requirements, while ensuring stringent KYC, anti-fra...
Finance : Ministry of Finance streamlines PMLA KYC rules for SEBI-defined intermediaries, allowing CKYCRR uploads, updates, and retrieval to...
Corporate Law : The Ministry of Finance has appointed 53 Special Public Prosecutors to handle cases on behalf of the Directorate of Enforcement un...
Every Banking Company or Financial Institution or intermediary, as the case may be, shall register the details of a client, in case of client being a non-profit organisation, on the DARPAN Portal of NITI Aayog, if not already registered, and maintain such registration records for a period of five years after the business relationship between a client and a reporting entity has ended or the account has been closed, whichever is later.
Under section 43 of Prevention of Money-laundering Act, 2002 and in consultation with Chief Justice (Acting) of Gauhati High Court, Central Government makes further amendment in earlier notification
Supreme Court of India held that in money laundering case the issue of territorial jurisdiction cannot be decided in a writ petition, especially when there is a serious factual dispute about the place/places of commission of the offence.
Supreme Court of India held that conditions under Section 45 Prevention of Money Laundering Act, 2002 (PMLA) is applicable to Anticipatory Bail application under section 438 of The Code of Criminal Procedure, 1973.
Allahabad High Court held that bail not granted as the applicant doesnt qualify the twin conditions of section 45 of Prevention of Money Laundering Act, 2002 (PMLA) and applicant is based at Abu Dhabi.
Delhi High Court held that the applicant is established to be a mastermind of the whole operation only on the basis of statements under section 50 of the Prevention of Money Laundering Act 2002. Also period of incarceration and delay in investigation justifies a prima facie release of applicant on bail.
Money laundering is a serious criminal offence with severe penalties. The Prevention of Money Laundering Act, 2000 (PMLA 2000) was put in place in order to tackle this escalating crime and provide measures to prevent people from facilitating money laundering activities. The PMLA 2000 uses a two-pronged approach to tackle this offence, penalizing individuals or […]
Strengthening Financial Systems: Enhancing Compliance Through Prevention of Money Laundering Act 2002 (PMLA 2002) What is Money Laundering? Money laundering is the process of disguising illegally acquired income and transferring it into a legitimate financial system. Money laundering is used to camouflage the source of unlawful funds, often sourced from criminal activities such as drug […]
Delhi High Court held that power of Enforcement Directorate (ED) stands confined to the offense of money laundering as defined in terms of Prevention of Money Laundering Act, 2002.
Jharkhand High Court upholds Anosh Ekka’s conviction for acquiring disproportionate assets. Co-accused sentenced for abetting and conspiracy under P.C. Act.
