For the inward-transfer limb of an offence of cross-border implications under section 2(1)(ra)(i) of…
Section 2(1)(ra) has two alternatives. Qualifying foreign conduct must be criminal there and correspond to an Indian scheduled offence, with proceeds transferred into India.…
Choose your answer
For the inward-transfer limb of an offence of cross-border implications under section 2(1)(ra)(i) of the Prevention of Money-laundering Act, 2002, suppose foreign conduct is criminal there and would constitute an Indian scheduled offence. Which additional proceeds condition is required?
Answer and explanation
Correct answer D
Section 2(1)(ra) has two alternatives. Qualifying foreign conduct must be criminal there and correspond to an Indian scheduled offence, with proceeds transferred into India. A scheduled offence in India may instead qualify through actual or attempted outward transfer. Foreign conduct and inward transfer are therefore not universal requirements for every cross-border case.