Money laundering is a continuing offence: HC
TIMES NEWS NETWORK
Bengaluru: 16.12.2020
Under the Prevention of Money Laundering Act, the relevant date is not that of acquisition of unaccountedfor money but when such an amount is being processed and projected as untainted.
The high court made this observation while disposing of a batch of petitions filed in 2016-17, challenging the action initiated under PML Act and saying it can’t be invoked retrospectively.
Pointing out that money laundering is a continuing offence, the court noted that the offence under Section 3 of PML Act is a standalone in itself and one doesn’t need other schedule offences to proceed against a person. For constituting an offence under Section 3, connection of the transaction to proceeds of the crime is sufficient and not the crime, a division bench headed by Justice Aravind Kumar observed.
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