Section 14 of the Prevention of Money Laundering Act, 2002 ensures reporting entities are not-
Section 14 says reporting entities and their staff "shall not be liable to any civil or criminal proceedings" for furnishing information under s.12(1)(b). Their verification…
Choose your answer
Section 14 of the Prevention of Money Laundering Act, 2002 ensures reporting entities are not-
Answer and explanation
Correct answer A
Section 14 says reporting entities and their staff "shall not be liable to any civil or criminal proceedings" for furnishing information under s.12(1)(b). Their verification and record-keeping duties under ss.11A and 12 continue, and the protection is subject to s.13 penalties.