This document analyses recent amendments to India's Prevention of Money Laundering Act (PMLA), intended to bolster anti-money laundering (AML) measures. The Central Government broadened the act's scope to include new reporting entities: company directors and secretaries, firm partners, express trust trustees, and nominee shareholders. They are now required to report certain business activities, thereby contributing to the effort against money laundering.
These amendments aim to enhance AML measures by expanding reporting requirements and accountability, confronting money laundering and terrorist financing more effectively. However, they also bring increased compliance obligations for various entities
