"Proceeds of crime" under Section 3 of the Prevention of Money Laundering Act, 2002 includes:
Section 3 works on "proceeds of crime" as defined in section 2(1)(u): "any property derived or obtained, directly or indirectly, by any person as a result of criminal…
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"Proceeds of crime" under Section 3 of the Prevention of Money Laundering Act, 2002 includes:
Answer and explanation
Correct answer A
Section 3 works on "proceeds of crime" as defined in section 2(1)(u): "any property derived or obtained, directly or indirectly, by any person as a result of criminal activity relating to a scheduled offence". The definition is not limited by type of property, location or a value threshold.