Prevention of Money Laundering Act (PMLA) is significantly positioned to address money laundering activities. Its efficacy depends on the resolution of challenges in implementation, timely prosecution, and prevention of misuse. Critically examine (250 words)

10. Prevention of Money Laundering Act (PMLA) is significantly positioned to address money laundering activities. Its efficacy depends on the resolution of challenges in implementation, timely prosecution, and prevention of misuse. Critically examine (250 words)

Reference: The Hindu , Insights on India