Prevention of Money Laundering Act, 2002 (PMLA)
Section 3 of PMLA labels anyone who is “actually involved” as being “in possession” or in the “use” to of the activity connected with or the use of the proceeds of the crime.
To understand this, lets take an example,
If a person “X” commits an online fraud an offence and transfers that money which is the proceeds of crime to “Y” his brother-in-law and “Y” add his saving to that and purchased the shop in Delhi. Now Shop was rented out to “Z” a chartered accountant. In this scenario, X, Y and Z are accused as per the Section 3 of the PMLA. As “X” was a fraud, and for the concealment of illegal money he transferred that money. As “Y” has purchased Shop from tainted money is also liable. Again though “Z” may be complete stranger to crime, he would still be an accused under Section 3 of PMLA. So, as guilty, regardless of whether or not he is aware that activity is being undertaken with tainted money.
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