The Idol Spot

PREFACE Prevention of Money Laundering Act, 2002 was enacted to fight against the criminal offence of legalizing the income/profits from an illegal source. The Prevention of Money Laundering Act, 2002 enables the Government or the public authority to confiscate the property earned from the illegally gained proceeds. INTRODUCTION  Any person who directly or indirectly: Attempts to indulge. Assists the person who is involved in any process. Is a party to the activity connected with the proceeds of crime. As the supply of illegal arms, drug trafficking, and prostitution, which can generate huge amounts of money and project or claim it as untainted property; shall be guilty of the offence of Money Laundering. The Act was formulated for the following objectives: 1. Prevent money- laundering 2. Combat/prevent channelising of money into illegal activities and economic crimes. 3. Provide for the confiscation of property derived from, or involved/used in, money laundering. 4. Provide for matter

  WHAT IS IPC? IPC (IPC full form Indian Penal Code) is the skeleton of the Indian criminal justice system. The  Indian Penal Code 1860  is the main criminal code of India. Enacted in 1860, it is a comprehensive  code designed to meet all substantive features of criminal law .  The Act came into force in the year 1862 and since then amended many times. At present, the  Act is enhanced by other criminal  provisions . The Act was drafted on the recommendations of the first law commission established under the chairmanship of Lord Macaulay in 1834. The Indian Penal Code is the official criminal code of the Republic of India. It is a complete code intended to cover all aspects of criminal law. It came into force in 1862 in all British Presidencies, although it did not apply to the Princely states, which had their courts and legal systems.   HISTORY The first draft of the Indian Penal Code was prepared by the First Law Commission, chaired by Thomas Babington Macaulay. The draft was based on