EXPANSION OF THE SCOPE OF THE PREVENTION OF MONEY LAUNDERING ACT, 2002

Published On: 21/06/2023

Authors:

Amit Jajoo
Avik Biswas
Rithika Reddy Varanasi
Animay Singh
Bhargav Kosuru
Recent notifications by the Ministry of Finance have broadened the scope and applicability of India’s anti-money laundering law, by bringing various individuals under the purview of ‘reporting entities’. The notifications also attempt to bring India’s anti money-laundering laws in line with the recommendations of the Financial Action Task Force. INDUSLAW’s Amit Jajoo, Avik Biswas, Rithika Reddy, Animay Singh and Bhargav Kosuru provide their insights on the crucial notifications.