When dealing with PMLA, the Prevention of Money Laundering Act, 2002, is India’s primary statute to combat money laundering and related financial crimes. Also known as Anti‑Money Laundering Law, it sets out who must report, what transactions are flagged, and the penalties for non‑compliance. PMLA doesn’t operate in isolation – it works hand‑in‑hand with Money Laundering, a process that disguises illegal proceeds as legitimate income, and with the Enforcement Directorate, the agency empowered to investigate violations. The Act also relies on the Financial Intelligence Unit (FIU‑IND) to collect, analyse, and share suspicious transaction reports. Together, these pieces create a network that aims to keep the financial system clean.
One of the first semantic connections is that PMLA encompasses Beneficial Ownership requirements, meaning companies must disclose the natural persons who ultimately control them. This transparency helps the Enforcement Directorate trace illicit funds back to their source. The Act also prescribes that financial institutions file Suspicious Transaction Reports (STRs) with the Financial Intelligence Unit. The FIU‑IND then analyses the data and, if needed, forwards it to the Enforcement Directorate for further action. In practice, Money Laundering investigations often start with a single STR that uncovers a complex web of shell companies, offshore accounts, and hidden beneficial owners. This chain of events shows how the Act, the reporting bodies, and enforcement agencies are tightly linked.
Understanding these links gives you a practical lens for the articles below. You’ll see case studies on how banks comply with reporting duties, breakdowns of recent Enforcement Directorate raids, and explainers on the role of the FIU‑IND in spotting terrorist financing. Whether you’re a compliance officer trying to grasp the nitty‑gritty of STR filing, a lawyer navigating beneficial‑ownership disclosures, or just curious about how India fights financial crime, the collection offers real‑world examples that illustrate the concepts introduced here. Dive in to see how the framework works on the ground and get actionable takeaways for your own context.
Actor Vijay Deverakonda was questioned by India's Enforcement Directorate in New Delhi over a betting‑app probe, with fellow stars Rana Daggubati and Lakshmi Manchu also summoned.
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