pmla act is mainly related to
Answers
Answer: Money Laundering
Explanation: Prevention of Money Laundering Act or PMLA 2002 was put in practice by the NDA government to stop money-laundering. The Act came into effect from 1st July 2005. It was amended thrice once in 2005, 2009 and 2012
Money Laundering is an activity which involves making of huge money through a criminal activity, such as terrorist funding,drug trafficking etc. It is the process of converting this source of money into a legitimate one. The use of such money in the purchase of any property is also seen as an offence.
Anyone be it an individual, group or an association who is / are involved directly or indirectly in money laundering or even assisting in such activity knowingly or unknowingly is considered as a criminal.
The three main objectives of PMLA are
1) To control and prevent money laundering
2) To take control and seize the property acquired through the laundered money.
3) To combat issues related with money laundering in India.