What is the new amendment to the Prevention of Money Laundering Act/What is true about Prevention of Money Laundering Act/The effectiveness of the new Prevention of Money Laundering (Amendment) Act/Best law firm in Coimbatore/ Best advocates in Coimbatore/Best law service in Coimbatore/ Best legal consultation in Coimbatore/ Best legal services in Coimbatore/ Best lawyers in Coimbatore/ Online legal consultation. The Prevention of Money Laundering (Amendment) Act, 2019 was passed by the Indian Parliament in July 2019 and came into force in August 2019. This Act amends the Prevention of Money Laundering Act, 2002 to bring it in line with the global standards set by the Financial Action Task Force, an inter-governmental global body. The Amendment Act has been effective in strengthening the legal framework for curbing money laundering and terror financing in India. It has introduced several new provisions, such as the widening of the scope of ‘proceeds of crime’ and the establishment of a Financial Intelligence Unit. It also makes it mandatory for intermediaries to register with an authority designated by the government. The Amendment Act has also made it easier for law enforcement agencies to investigate and prosecute money laundering cases. It has also enabled the government to impose a penalty of up to thrice the value of the proceeds of crime on those who are found to be involved in money laundering. At Saanvika Legal Associate, other laws cases like business law, financial law, insurance law, environment law, consumer law, property law, banking, tax, cyber, labor, constitutional, legal registration, litigations, criminal, family law, and so on are provided. All kinds of Law services are offered by experienced lawyers that result in the success of your cases in every way possible.