Key takeaway of Section 14 of the Prevention of Money Laundering Act, 2002:-
The key takeaway of PMLA s.14 is that reporting entities, their directors, and employees are protected from civil or criminal proceedings for furnishing information under…
Choose your answer
Key takeaway of Section 14 of the Prevention of Money Laundering Act, 2002:-
Answer and explanation
Correct answer B
The key takeaway of PMLA s.14 is that reporting entities, their directors, and employees are protected from civil or criminal proceedings for furnishing information under s.12(1)(b), not that they are wholly exempt from the Act, that only clients are protected, or that only fines are waived.