Enforcement Agencies — Legal Reforms

Entry	Year	Description	Impact
Prevention of Money Laundering (Amendment) Act 2012	2012	Expanded the definition of 'proceeds of crime' to include property equivalent in value to proceeds of crime, strengthened attachment and confiscation provisions, and enhanced reporting requirements for financial institutions.	Significantly strengthened ED's powers by allowing attachment of equivalent assets when original proceeds cannot be traced, making the law more effective against sophisticated money laundering schemes.
Prevention of Money Laundering (Amendment) Act 2019	2019	Clarified the definition of 'reporting entity' to include housing finance companies, chit funds, and other financial intermediaries, and strengthened the powers of the Adjudicating Authority.	Expanded the regulatory net to cover previously unregulated financial sectors, enhancing the comprehensiveness of the anti-money laundering framework and improving detection capabilities.