PMLA | Offence Of Money Laundering Layered, Includes Stages Preceding & Succeeding The Offence But Mere Suspicion Not Prima Facie Proof: Delhi HC
[17 February 2022] The Delhi High Court on Thursday held that the offence of money laundering under the Prevention of Money Laundering Act, 2002 is layered and multi-fold which includes the stages preceding and succeeding the offence.
Justice Chandra Dhari Singh added that the PMLA is a special enactment to combat the menace of money laundering, keeping in view the illegal practices that have been surfacing with respect to transfer and use of tainted money and subsequent acquisition of properties by using the same.
“The offence of money laundering is three- fold including the stages of placement, whereby the criminals place the proceeds of crime to the general nd genuine financial system, layering, whereby such proceeds of crime are spread into various transactions within the financial system and finally, integration, where the criminals avail the benefits of crime as untainted money. The offence of money laundering under the PMLA is therefore, layered and multi-fold and includes the stages preceding and succeeding the offence of laundering money as well,” the Court said.