Section 4 - Punishment for money-laundering. - Prevention of Money-Laundering Act, 2002

Punishment for money-laundering. 4. 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 1 [***] : Provided that where the proceeds of crime involved in money-laundering relate 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 , the words which may extend to ten years had been substituted. --------------------- Notes: 1. O mitted Vide Prevention of Money-laundering (Amendment) Act, 2012, w.e.f. 15-2-2013.before it was read as: which may extend to five lakh rupees