Category: Prevention of Money Laundering Act 2002
Economic Offenders Application for Declaration of Fugitive Economic Offender Rules 2018. The Government has notified Fugitive Economic Offenders (Application for Declaration of Fugitive Economic Offender) Rules 2018 The Rules provide for the manner of forwarding an application for declaration of Fugitive Economic Offender under the Fugitive Economic Offenders …
PMLA-Property held outside country, amended provisions effective from 19th April, 2018 The Finance Act has made an important amendment in the definition of “proceeds of crime” as appearing in Prevention of Money Laundering Act, 2002. Previously, the definition was amended in 2015 to include “property equivalent held within …
Constitutional Validity of second proviso of section 5(1) of PMLA upheld. Failure to disclose “reasons to believe” would be the entire proceedings illegal-High Court Prelude: The offence of money-laundering is defined under Section 3 PMLA. The punishment is prescribed under Section 4 PMLA. The expression “proceeds of crime” …
Deadline of pan-aadhaar reporting to bank Extended to 31-03-2018. Earlier by notification dated 12-12-2017 the date was postponed indefinitely Press Information Bureau Government of India Ministry of Finance 13-December-2017 17:15 IST Extension of deadline till 31.3.18 for submission of Aadhaar number, and Permanent Account Number or Form 60 …
Time limit to report Aadhaar and PAN to banks etc extended/postponed indefinitely. Earlier the deadline for existing was 31st December 2017 or six months for existing clients. MINISTRY OF FINANCE (Department of Revenue) Notification No. 9/2017 New Delhi, the 12th December, 2017 G.S.R. 1506(E).—In exercise of the powers …
Dealers of Gems and Jewellery exempted from PMLA Requirement Press Information Bureau Government of India Ministry of Finance 06-October-2017 21:35 IST Government rescinds the Notification No. 4/2017 dated 23rd August, 2017 relating to Gems and Jewellery sector; Another notification will be issued separately in due course. The Government has received …
List of 53 absconding persons prosecuted under PMLA 2002 Press Information Bureau Government of India Ministry of External Affairs 20-July-2017 17:55 IST Persons Prosecuted Under Prevention of Money Laundering Act As per information received from the Directorate of Enforcement, New Delhi, the prosecution complaint has been filed against …
