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of <h1>Proposed Amendments to Money-Laundering Act Broaden Crime Definition, Adjust Legal Timelines, and Strengthen Enforcement Powers</h1> The amendments to the Prevention of Money-Laundering Act, 2002, proposed in the Finance Bill, 2018, include several key changes. These amendments aim to broaden the definition of 'proceeds of crime' to include assets held abroad, adjust the computation of time periods in legal proceedings, and provide the Enforcement Directorate with more time for prosecution. They also propose changes to arrest powers, making offenses cognizable and non-bailable, and allowing leniency in bail for minor offenses. Additionally, the amendments enhance the authority's powers regarding summons and document production, improve information sharing with other agencies, and include corporate fraud provisions under the Companies Act, 2013.
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