QUICK REVIEW Of PREVENTION OF MONEY LAUNDERING ACT, 2002
Money laundering is the process by which large amounts of illegally obtained is given the appearance of having originated from a legitimate source. So basically, all the ways to convert the black money into white money are Money laundering. But in Money laundering, the black money must involve a predicate crime. The offence of ‘Money Laundering’ is defined under Section 3 …