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of <h1>Money Laundering Law Update: Section 2 Expanded to Include Foreign Assets; Threshold Raised to One Crore Rupees</h1> In the Prevention of Money-Laundering Act, 2002, section 2 has been amended as follows: In clause (u), the definition is expanded to include property held outside the country, with an equivalent value held within the country. In clause (y), sub-clause (ii), the monetary threshold is increased from thirty lakh rupees to one crore rupees. These amendments were introduced under the Finance Act, 2015, to enhance the scope and effectiveness of the legislation in combating money laundering activities.
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