Lexis Nexis’s The Prevention of Money Laundering Act, 2002 (Bare Act) by Universal – 2026 Edition.

The “White Collar” Crime Manual: ED Procedures & KYC Compliance.

The Prevention of Money Laundering Act (PMLA) is the most feared statute in corporate India today. With stringent bail conditions (Section 45) and broad powers of attachment, staying updated is a survival necessity. Universal’s 2026 Bare Act is the definitive resource for understanding the latest procedural changes enforced by the Jan Vishwas Act and the 2024 Rules amendments.

Why is the 2026 Edition Mandatory? You cannot rely on last year’s book for PMLA compliance. The rules for “Maintenance of Records” (KYC) changed in July 2024. This edition specifically includes these updates, which are mandatory for Banks, Real Estate Agents, and Jewelers (“Reporting Entities”).

Key Features & Critical Updates

• Jan Vishwas Act, 2023 (w.e.f. 13-8-2024):

  • The cover highlights the specific enforcement date of the Jan Vishwas (Amendment of Provisions) Act, 2023. This amendment has rationalized the “Schedule” of offenses.

  • Impact: It has removed certain minor offenses (like those under the Air Act and Environment Protection Act) from the PMLA schedule, meaning ED cannot register a case based solely on those minor violations.

• 2024 Rules Amendment (New KYC Norms):

  • Exclusive Update: Includes the “Prevention of Money-laundering (Maintenance of Records) Rules, 2005 as amended by Rules, 2024.”

  • This update (notified July 19, 2024) mandates that Reporting Entities must now use the KYC Identifier (KI) from the Central KYC Records Registry (CKYCR) to verify clients, instead of asking for physical documents repeatedly.

• Property Attachment Rules:

  • Detailed rules on how the Adjudicating Authority handles the “Provisional Attachment” of property—the first step in any ED raid.

• Search & Seizure Protocols:

  • Contains the full text of the Forms, Search and Seizure… Rules, 2005, explaining the legal limits of an ED search operation.

Who is this Book For?

• Corporate & Criminal Lawyers: The bible for handling “Bail under Section 45” and challenging “Provisional Attachment Orders.”

• Chartered Accountants (CAs): Essential for auditing “Reporting Entities” to ensure they are compliant with the 2024 CKYC norms.

• Bankers & Fintech Compliance Officers: You need the Maintenance of Records Rules (2024) to know the strict 7-day deadline for updating client info on the central registry.

• Real Estate Developers: Frequently targeted under PMLA; need to understand the “Proceeds of Crime” definition.

Details