Under section 3 of the Prevention of Money-laundering Act, 2002, which of the following is included as…
The Explanation to section 3 says a person is guilty if he is involved in one or more of the processes of "concealment; or possession; or acquisition; or use; or projecting…
Choose your answer
Under section 3 of the Prevention of Money-laundering Act, 2002, which of the following is included as a process connected with proceeds of crime?
Answer and explanation
Correct answer D
The Explanation to section 3 says a person is guilty if he is involved in one or more of the processes of "concealment; or possession; or acquisition; or use; or projecting as untainted property; or claiming as untainted property". Concealment, acquisition and use are each listed, so each is a process connected with proceeds of crime.