Lok Sabha approves changes to money laundering law
Congress MP Sanjay Nirupam questioned whether the PMLA would apply to a minister or a former minister may favour a contractor using his position and later himself open a company, which gets funds from the same contractor as a return.
* The Bill drafted in the backdrop of India becoming a member of FATF seeks to bring domestic law in line with international law
* The removal of the penalty ceiling currently at Rs 5 lakh is in line with this objective
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