REGULATORY ENFORCEMENT AND FUNDAMENTAL RIGHTS: A STUDY OF PMLA IN INDIA

Abstract

Strong legal and regulatory frameworks have been required to fight money laundering worldwide due to the rise in financial crimes and illicit financial flows. The main legal framework in India to deal with the laundering of money obtained through illegal activity is the Prevention of Money Laundering Act, 2002 (PMLA). The Act has greatly increased the state's ability to look into complicated economic crimes and make it easier to seize illegal assets, but it has also sparked a lot of debate about whether or not it is consistent with the fundamental rights protected by the Indian Constitution. Concerns about the preservation of individual liberty, equality before the law, and procedural justice have been raised by the enforcement authorities' extensive investigative powers, strict bail requirements, and the reversal of the burden of proof.

This paper analyzes the PMLA's enforcement in light of India's fundamental rights framework while critically examining its constitutional ramifications. It also assesses judicial interpretations and reactions to constitutional challenges, emphasizing the continuous conflict between the need for efficient anti-money laundering measures and the protection of civil liberties. The study emphasizes the necessity of a calibrated strategy that balances strict enforcement with institutional accountability and constitutional protections.