Prevention of Money Laundering (Amendment) Bill

New Deli, June 5 (UNI) The Union Cabinet today gave approval for the introduction of the Prevention of Money Laundering (Amendment) Bill, 2008 in Parliament.

''The Amendment will enable the Government to meet certain domestic needs and international obligations,'' Information and Broadcasting Minister Priya Ranjan Dasmunsi told reporters.

The Prevention of Money Laundering Act was enacted in 2002 and enforced in 2005.

It seeks to prevent money laundering, and to provide for attachment, seizure and confiscation of proceeds of crime obtained or derived, directly or indirectly, from money laundering.

UNI YJ SB HS1320