MONEY LAUNDERING LAW MANUAL TAXMANN updated June 2025

Description

Money Laundering Law Manual is a comprehensive legal reference that delves into the complexities of the Prevention of Money-laundering Act 2002 (PMLA) and its allied rules, regulations, notifications, and case laws. Updated to incorporate amendments, the Manual provides readers with an in-depth understanding of the legal and procedural framework governing anti-money laundering (AML) laws in India. It aims to simplify intricate legal concepts and procedures, supporting readers in navigating one of the most significant financial crime legislations.

This book is intended for the following audience:

• Legal Practitioners & Litigators – Lawyers who require an extensive yet navigable resource on PMLA cases, rules, and enforcement
• Compliance Officers & AML Professionals – Individuals in banks, financial institutions, and corporations who must ensure AML compliance
• Academics & Researchers – Law students, faculty, and researchers needing a structured resource on AML principles, case laws, and legislative changes
• Regulatory & Enforcement Agencies – Government officials and regulators involved in investigating and prosecuting money laundering offences

The Present Publication is the 2025 Edition, amended upto 5^th June 2025. This book is edited by Taxmann’s Editorial Board with the following noteworthy features:

• [Latest Amendments & Notifications] Covers updates in the PMLA, including recent rules and government notifications
• [Annotated Statutory Text] Provides the full text of the Prevention of Money-laundering Act 2002, supplemented with detailed explanations, notes, and interpretative comments
• [Extensive Case Law Digest] Includes landmark and recent rulings, offering insight into judicial trends and interpretations of key provisions
• [Rules & Regulations Compilation] Brings together all relevant Rules, Regulations, and Directions issued under PMLA for quick reference
• [User-friendly Structure] Divided into well-organised divisions, each focusing on a specific component—a guide, statutory text, rules/regulations, notifications, and case laws
• [Single-source Reference] From legislative text to recent judicial pronouncements, the Manual consolidates all relevant resources under one cover, eliminating the need to consult multiple documents

The coverage of the book is as follows:

• Guide to Prevention of Money-Laundering Act
  • Background and historical evolution of money-laundering laws
  • Obligations of reporting entities (maintenance of records, furnishing information)
  • Overview of authorities, search/seizure procedures, and other essential provisions
• Prevention of Money-laundering Act 2002
  • Arrangement of sections and fully annotated text of the Act
  • Subject Index for quick navigation
• Rules & Regulations Under PMLA
  • Comprehensive text of all relevant Rules and Regulations, including the Manner of Forwarding Orders, Maintenance of Records, Appeals, Adjudicating Authority procedures, etc.
  • KYC (Know Your Customer) Directions 2016
• Notifications
  • An exhaustive list of government notifications with concise descriptions and references, covering topics such as authorities’ appointments, Aadhaar authentication, special courts, designated business activities, and other procedural guidelines
• Case Laws Digest
  • A curated collection of important court decisions, arranged with page references
  • Includes references to the latest Supreme Court and High Court judgments, providing critical insights into how courts have interpreted AML provisions

The Manual is divided into five main divisions for streamlined study and reference:

• Division One – Guide to Prevention of Money-laundering Act
  • Background, reporting entity obligations, powers of authorities, search & seizure, and miscellaneous provisions
• Division Two – Prevention of Money-laundering Act 2002
  • It contains the Arrangement of Sections, annotated statutory text, and a subject index
• Division Three – Rules & Regulations
  • Presents the complete sets of Rules and Regulations framed under the Act, including amendments, with separate chapters for each set of Rules
• Division Four – Notifications
  • A chronological repository of notifications, each summarised for quick understanding, plus page references for easy lookup
• Division Five – Case Laws Digest
  • Lists significant rulings from various forums, complete with references and subject indices
• Each division offers cross-referencing tools, commentary, and indexes to make retrieval of specific information effortless