Scheduled offence is a prerequisite for initiating proceedings ...

Prerequisite for Money Laundering Case: Pending Scheduled Offence Case a Must.

Case Laws Money Laundering

August 24, 2024

Scheduled offence is a prerequisite for initiating proceedings under the Prevention of Money Laundering Act (PMLA). The offence of money laundering u/s 3 of PMLA requires demonstrating the accused's involvement in any process or activity connected with proceeds of crime. Proceeds of crime are derived from criminal activity relating to a scheduled offence. Registration of an FIR/case for a scheduled offence is mandatory before registering a case for money laundering. The Enforcement Directorate cannot independently determine the commission of scheduled offences. In the absence of a registered case or pending inquiry/trial for a scheduled offence, there are no proceeds of crime, and thus no offence of money laundering u/s 3 of PMLA. The authorities under PMLA have no jurisdiction to register ECIR and launch prosecution without a scheduled offence.

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Scheduled offence is a prerequisite for initiating proceedings ...

Prerequisite for Money Laundering Case: Pending Scheduled Offence Case a Must.

Case Laws Money Laundering

August 24, 2024

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