What is the purview of Prevention of Money Laundering Act?

The purview of Prevention of Money Laundering Act:

• Special Courts have been set up in a number of States / UTs by the Central Government to conduct the trial of the offences of money laundering. 
• The authorities under the Act like the Director, Adjudicating Authority and the Appellate Tribunal have been constituted to carry out the proceedings related to attachment and confiscation of any property derived from money laundering.
• In order to enlarge the scope of this Act and to achieve the desired objectives, the Act provides for bilateral agreements between countries to cooperate with each other and curb the menace of money laundering.
• These agreements shall be for the purpose of either enforcing the provisions of this Act or for the exchange of information which shall help in the prevention in the commission of an offence under this Act or the corresponding laws in that foreign State.
• The Government has constituted the Financial Intelligence Unit, India headed by Director in the rank of a Joint Secretary to the Government of India. 

Further Reading:

• Prevention of Money Laundering Act
• Indian Polity Notes For UPSC