PMLA 2002

  Prevention of money laundering act 2002 was passed to reduce the perennial issue of black money in Indian economy

Challenges

• It puts the burden of proof on the accused making obtaining acquittals all the more difficult.
• Indian judicial system is slow moving due to it's huge back log of cases.
• Judges often are rushed into decisions by the executive. It compromise the quality of bail provided.
• Large informal economy make the investigation tedious and long drawn out.
• Use of technology is minimal and officers are often unaware of modern methods of laundering.
• Nexus between criminals and politicians; e.g., Sandeshkhali 

Way forward

• Provisions of the P.M.L.A. 2002 need to be simplified with clear definitions.
• Quantum of punishment need to be increased, with cool off period from politics in case of proved allegations.

In conclusion, P.M.L.A. 2002 presents several challenges like shifting of burden of proof, judicial pendency and tougher bail. These could be addressed through simplification of norms and transparent execution.