Section 12A of the Prevention of Money Laundering Act, 2002 strengthens which mechanism under the PMLA?
Section 12A sits in Chapter IV on the obligations of reporting entities and gives the Director access to their records and further information. It supports reporting and…
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Section 12A of the Prevention of Money Laundering Act, 2002 strengthens which mechanism under the PMLA?
Answer and explanation
Correct answer B
Section 12A sits in Chapter IV on the obligations of reporting entities and gives the Director access to their records and further information. It supports reporting and compliance; adjudication, appeals and trials are dealt with in Chapters III, VI and VII.