The primary objective of Section 11A of the Prevention of Money Laundering Act, 2002 is to-
Section 11A requires reporting entities to verify the identity of clients and beneficial owners through set modes, while s.11A(3) and (4) protect the client's choice and bar…
Choose your answer
The primary objective of Section 11A of the Prevention of Money Laundering Act, 2002 is to-
Answer and explanation
Correct answer C
Section 11A requires reporting entities to verify the identity of clients and beneficial owners through set modes, while s.11A(3) and (4) protect the client's choice and bar storing core biometrics or the Aadhaar number. Penalties are under s.13 and confiscation under s.8.