Provisional attachment under PMLA may deter banks from reporting, as their securities could be seen as crime proceeds.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Provisional attachment under PMLA Act - If the security of the Bank, is treated as proceeds of crime and is confiscated under the Act, in future, no Bank in such circumstances would make a complaint to the authorities. - AT....