Section 12 of the Prevention of Money Laundering Act, 2002 applies to records relating to-
Section 12 obliges reporting entities to record all transactions (clause (a)) and identity documents, account files and correspondence of clients (clause (e)).…
Choose your answer
Section 12 of the Prevention of Money Laundering Act, 2002 applies to records relating to-
Answer and explanation
Correct answer D
Section 12 obliges reporting entities to record all transactions (clause (a)) and identity documents, account files and correspondence of clients (clause (e)). Investigation, trial and appeal records belong to the authorities, not to the reporting entity's duties.