The five-year period under Section 12(3) of the Prevention of Money Laundering Act, 2002 is calculated…
The five-year retention period under PMLA s.12(3) is calculated from the date of the transaction between the client and the reporting entity, not from the date of…
Choose your answer
The five-year period under Section 12(3) of the Prevention of Money Laundering Act, 2002 is calculated from-
Answer and explanation
Correct answer C
The five-year retention period under PMLA s.12(3) is calculated from the date of the transaction between the client and the reporting entity, not from the date of attachment, complaint, or audit.