S.70 PMLA | Properties Purchased Prior To Scheduled Offence Can Be Attached Even If Not Purchased With Proceeds Of Crime: Madras High Court

The Madras High Court clarified that, under Section 70 of the Prevention of Money Laundering Act (PMLA), property seized by authorities does not need to originate from the direct proceeds of crime. The court explained that the law allows for the seizure of assets even if they are not directly linked to the crime, as long as there is reasonable belief that they are involved in money laundering activities. This ruling expands the scope of asset seizures under the PMLA and strengthens anti-money laundering enforcement.