No proposal to amend PMLA: Govt

Government today said there was no proposal to amend the Prevention of Money Laundering Act (PMLA) for ensuring that money laundered by scamsters goes back to the victims of chit fund or any other similar frauds.
"No such proposal is under consideration of the government," Minister of State for Finance Nirmala Sitharaman told Lok Sabha in a written reply.
She added that no individual or entities have been convicted under PMLA during the last three years and this year.
Sitharaman said during 2013-14 property worth Rs 1773.41 crore was attached under this law as compared to Rs 2358.07 crore during 2012-13.