Taxmann's Money Laundering Law Manual

PAGE

List of Notifications I-9

List of Cases I-17

DIVISION ONE GUIDE TO PREVENTION OF MONEY-LAUNDERING ACT

Background of Money-laundering 1.3 Obligations of reporting entities to keep record and furnish information 1.14

Authorities under the Act 1.28 Search, seizure, impounding of records 1.37 Other provisions 1.47

DIVISION TWO PREVENTION OF MONEYLAUNDERING ACT, 2002

Arrangement of Sections 2.3 Text of the Prevention of Money-laundering Act, 2002 2.7 Subject Index 2.69

DIVISION THREE RULES & REGULATIONS FRAMED UNDER PREVENTION OF MONEY-LAUNDERING ACT

Prevention of Money-laundering (the Manner of Forwarding a Copy of the Order of Provisional Attachment of Property along with the Material, and Copy of the Reasons along with the Material in respect of Survey, to the Adjudicating Authority and its Period of Retention) Rules, 2005 3.3

Contents

I-5

Prevention of Money-laundering (Receipt and Management of Confiscated Properties) Rules, 2005 3.11

Prevention of Money-laundering (Maintenance of Records) Rules, 2005, as amended by Prevention of Money-laundering (Maintenance of Records) Amendment Rules, 2022 3.17

Prevention of Money-laundering (Forms, Search and Seizure or Freezing and the Manner of Forwarding the Reasons and Material to the Adjudicating Authority, Impounding and Custody of Records and the Period of Retention) Rules, 2005 3.57

Prevention of Money-laundering (the Forms and the Manner of Forwarding a Copy of Order of Arrest of a Person along with the Material to the Adjudicating Authority and its Period of Retention) Rules, 2005 3.73

Prevention of Money-laundering (the Manner of Forwarding a Copy of the Order of Retention of Seized Property along with the Material to the Adjudicating Authority and the Period of its Retention) Rules, 2005 3.81

Prevention of Money-laundering (Manner of Receiving the Records Authenticated Outside India) Rules, 2005 3.89

Prevention of Money-laundering (Appeal) Rules, 2005 3.93 Adjudicating Authority (Procedure) Regulations, 2013 3.99

Prevention of Money Laundering (Appointment and Conditions of Service of Chairperson and Members of Appellate Tribunal) Rules, 2007 3.117

Prevention of Money-Laundering (Appointment and Conditions of Service of Chairperson and Members of Adjudicating Authorities) Rules, 2007 3.127

Prevention of Money-laundering (Issuance of Provisional Attachment Order) Rules, 2013 3.133

Prevention of Money-laundering (Taking Possession of Attached or Frozen Properties Confirmed by the Adjudicating Authority) Rules, 2013 3.139

Prevention of Money-laundering (Restoration of Property) Rules, 2016 3.147

Know Your Customer (KYC) Directions, 2016 3.151

DIVISION FOUR

NOTIFICATIONS

Notifications 4.3

PAGE CONTENTS I-6

DIVISION FIVE CASE LAWS DIGEST

Case Laws Digest 5.3 Subject Index 5.27

I-7

CONTENTS PAGE

1.1 NEED FOR SPECIAL ACT ON MONEY LAUNDERINGBACKGROUND OF MONEY LAUNDERING CHAPTER 1 1.3

1.1-1 Why the term ‘laundering’

1.1-2 Process of money laundering

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Para 1.1 1.4

-1.1-3 Rogue Countries 1.1-4 Rogue Banks 1.2 IMPLEMENTATION OF PREVENTION OF MONEY LAUNDERING ACT, 2002 1.5 Para 1.2

1.2-1 Amendments to Prevention of Money Laundering Act

-

---

Para 1.2 1.6

proviso

Explanation

-

i

Explanation

-1.7 Para 1.3

1.3 SCHEME OF THE PREVENTION OF MONEY LAUNDERING ACT 1.3-1 Criminal liability under Prevention of Money Laundering Act

1.3-2 Civil Liability i.e. confiscation of tainted property

Para 1.3 1.8

-

1.3-3 Order of confiscation by Special Court

not

1.4 PROVISIONS FOR PREVENTION OF MONEY LAUNDERING IN THE ACT

-

1.9 Para 1.4

-

Para 1.5 1.10

1.5 DEFINITION OF ‘MONEY LAUNDERING’ Money LaunderingExplanation in any manner whatsoever Explanation in any manner whatsoever’ Explanation (i) Explanation (i).

Madanlal Choudhary UOI

Proceeds of crime

-

Explanation -

Any bribe given with the requisite intent shall be considered as ‘proceeds of crime’ under PMLA, 2002, bribe giver can also be prosecuted- Directorate of Enforcement Padmanabhan Kishore

Property -

Explanation

Knowing assisting other is also offence -

Vijay

1.11 Para 1.5

1.6 SCHEDULED OFFENCE

Rs. one crore or

1.6-1 Offences covered in Part A of Schedule to the Act -

1.6-2 Offences covered in part B of Schedule to the Act

1.6-3 Part C of Schedule - Offence of cross border implications

Para 1.6 1.12

1.7 PUNISHMENT FOR OFFENCE UNDER PREVENTION OF MONEY LAUNDERING ACT

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1.13 Para 1.7

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MONEY LAUNDERING LAW MANUAL

AUTHOR : TAXMANN

This book provides 'complete coverage' of the law relating to Prevention of Money-laundering Act (PMLA), 2002.

The Present Publication is the 2023 Edition, edited by Taxmann's Editorial Board. This book is amended up to 12th December 2022. The coverage of this book includes:

• Guide to Prevention of Money-laundering Act, 2002 [40+ Pages | Short Commentary], on the following topics: Background of Money-Laundering Obligations of Reporting Entities to keep Records and Furnish Information Authorities under the Act Search, Seizure, Impounding of Records Other Provisions • Prevention of Money-laundering Act, 2002 • 15+ Rules/Regulations & Directions framed under the Prevention of Money-laundering Act

PUBLISHER : TAXMANN DATE OF PUBLICATION : DECEMBER 2022 EDITION : 1st EDITION, 2023 ISBN NO : 9789356225329 NO.OF PAGES : 434 BINDING TYPE : PAPERBACK

ORDER NOW DESCRIPTION

• Notifications • Case Laws Digest

Rs. 795 USD 39

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