The Prevention of Money Laundering Act came into force in

Correct option is E

The correct answer is (e) None of the above/More than one of the above

Explanation:

• The Prevention of Money Laundering Act (PMLA) was enacted by the Indian Parliament in the year 2002.
• However, the question specifically asks when the Act came into force.
• The PMLA and its accompanying rules officially came into force on July 1, 2005.
• Since 2005 is not listed among options A, B, C, or D, the correct choice is "None of the above".

• The primary objective of PMLA is to combat the criminal act of legalizing income/profits from illegal sources and to confiscate property derived from money laundering.
• The Enforcement Directorate (ED) is the nodal investigative agency responsible for enforcing the provisions of the PMLA.
• The act is part of India's commitment to international initiatives like the Financial Action Task Force (FATF).

• 1999 (Option B)
  The Foreign Exchange Management Act (FEMA) was enacted in 1999 to replace the draconian FERA.
• 2002 (Option D)
  This is the year the PMLA was passed/enacted by the Parliament, but it is not the year it came into practical force.