ED Summons under Section 50 of the PMLA: Understanding Your Rights and Responsibilities
Introduction The Prevention of Money Laundering Act, 2002 (PMLA) was passed to: Curb the laundering of illicit funds; and Enable confiscation of assets derived from such type of activity. The Act was passed in 2002, but the Act and Rules came into force from 1 July 2005. Banks and financial institutions have to make sure […]
