January 16 2018
The Enforcement Directorate (ED) is in the process of proposing an amendment to the Prevention of Money Laundering Act 2002 (PMLA) which, if cleared by the Parliament, will help tighten the law against corruption and attempts to legitimize undeclared wealth. It will also bring the Act at par with those in Australia and the UK.
The amendment seeks to permit the ED’s case against an individual or a group to stand even if a case on the same matter by the Central Bureau of Investigation (CBI) falls through. “The agency is still working on the amendment to ensure that the cases do not fall through… nothing concrete has been drafted as yet but we are working towards an airtight provision,” said a senior ED official, requesting anonymity.