"Why have CAs, CSs, and CMAs been included under the Prevention of Money Laundering Act (PMLA) recently enacted in India?"

The Prevention of Money Laundering Act (PMLA) is an Indian law that aims to prevent money laundering and other financial crimes. Under this act, the government has the authority to investigate and prosecute individuals or entities that are involved in money laundering or terrorist financing activities.

Chartered Accountants (CAs), Company Secretaries (CSs), and Cost and Management Accountants (CMAs) are professionals who work in the fields of accounting, auditing, and finance. While these professionals may not be directly involved in money laundering or terrorist financing activities, they may come across transactions that have the potential to be used for such activities. Therefore, the Indian government has included CAs, CSs, and CMAs under the definition of "reporting entities" under the PMLA.

As reporting entities, CAs, CSs, and CMAs have certain obligations under the PMLA. These obligations include conducting customer due diligence, maintaining records of transactions, and reporting suspicious transactions to the relevant authorities. The inclusion of these professionals under the PMLA is aimed at strengthening the country's efforts to prevent money laundering and other financial crimes.