For an overseas offence, assume the conduct is criminal there and would correspond to a scheduled…
The foreign limb requires criminality where the conduct occurred, correspondence to an Indian scheduled offence and transfer of at least part of the proceeds into India. The…
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For an overseas offence, assume the conduct is criminal there and would correspond to a scheduled offence if committed in India. Which proceeds-flow patterns correspond to the foreign and Indian limbs of offence of cross-border implications in section 2(1)(ra) of the Prevention of Money-laundering Act, 2002?
Answer and explanation
Correct answer B
The foreign limb requires criminality where the conduct occurred, correspondence to an Indian scheduled offence and transfer of at least part of the proceeds into India. The Indian scheduled-offence limb covers outward transfer or attempted outward transfer of its proceeds. A merely foreign offender or wholly domestic movement does not by itself establish these defined cross-border implications.