Money Laundering

Money Laundering

Money laundering is the approach that criminals take to camouflage their money flows from criminal activities (like drug trafficking, child pornography etc.) and pass it off as regular legal money flows.
According to PMLA, whosoever, directly or indirectly attempts to indulge, or knowingly assists,or knowingly is a party or is actually involved in any process or activity, connected with the proceeds of crime and projecting it as untainted property shall be guilty of offence of moneylaundering.
"Proceeds of crime" means any property derived or obtained, directly or indirectly, by any person as a result of criminal activity relating to a scheduled offence or the value of any such property.