PMLA provisional attachment of tainted assets, continuing offence and limitation exclusions shape enforcement scope

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 the PMLA may extend to movable and immovable assets traced to diverted Government funds when investigation links the money to scheduled offences and subsequent acquisition of property. The text explains that proceeds of crime include assets acquired from tainted funds, and that money-laundering is a continuing offence covering the holding, transfer or use of such proceeds even where the original diversion began earlier. It also states that attachment can apply to persons not arraigned in the predicate offence if they possess or deal with tainted property, and that proceedings may continue through legal representatives after the death of the property owner. Covid-19 limitation exclusions were treated as applicable to the confirmation period.....