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Critically examine the efficacy of the Prevention of Money Laundering Act (PMLA) in holding those engaging money laundering activities accountable before the law.

Topic: money laundering and its prevention.

6. Critically examine the efficacy of the Prevention of Money Laundering Act (PMLA) in holding those engaging money laundering activities accountable before the law. (250 words)

Difficulty level: Tough

Reference: Indian ExpressIndian Express

Why the question:

The Supreme Court’s verdict upholding all the controversial provisions of the Prevention of Money Laundering Act (PMLA) falls short of judicial standards of reviewing legislative action.

Key Demand of the question:

To write successes and limitations of PMLA in achieving its state objectives.

Structure of the answer:

Introduction: 

Begin by writing about the aims and objectives of PMLA.

Body:

First, write about the various features of PMLA – its successes and limitations when it comes to holding the launderers accountable.

Next, write about the steps that have been taken to improve the conviction rate in the PMLA. Write about its impact.

Conclusion:

Conclude with a way forward to holistically address the issue of money laundering in the country.