Prevention of Money Laundering Act, 2002 : Punishment for money-laundering. Indian Bare Acts :

Prevention of Money Laundering Act, 2002,2003

Act No : 15

Section : Punishment for money-laundering.

4. Punishment for money-laundering.-Whoever commits the offence of money-laundering shall be punishable with rigorous imprisonment for a term which shall not be less than three years but which may extend to seven years and shall also be liable to fine w ich may extend to five lakh rupees: Provided that where the proceeds of crime involved in money-laundering relates to any offence specified under paragraph 2 of Part A of the Schedule, the provisions of this section shall have effect as if for the words "which may extend to seven years", t e words "which may extend to ten years" had been substituted.