Section 14 of the Prevention of Money Laundering Act, 2002 is crucial for-
Section 14 shields reporting entities, their directors and employees from civil or criminal proceedings for furnishing information under s.12(1)(b), so that the reporting…
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Section 14 of the Prevention of Money Laundering Act, 2002 is crucial for-
Answer and explanation
Correct answer D
Section 14 shields reporting entities, their directors and employees from civil or criminal proceedings for furnishing information under s.12(1)(b), so that the reporting system that underpins the fight against money-laundering keeps working. It does not touch client penalties, audits or Special Court proceedings.