The purpose of Section 13 of the Prevention of Money Laundering Act, 2002 is to-
Section 13 lets the Director inquire into, and penalise, failures by a reporting entity to meet its obligations under Chapter IV, such as verification, due diligence,…
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The purpose of Section 13 of the Prevention of Money Laundering Act, 2002 is to-
Answer and explanation
Correct answer B
Section 13 lets the Director inquire into, and penalise, failures by a reporting entity to meet its obligations under Chapter IV, such as verification, due diligence, record-keeping and reporting. Arrest is under s.19 and confiscation under s.8.