Under the Prevention of Money-laundering Act, 2002, claiming proceeds of crime as untainted property:
The Explanation to section 3 lists "claiming as untainted property" as a separate process, so a person who knowingly makes such a claim commits money-laundering whether or…
Choose your answer
Under the Prevention of Money-laundering Act, 2002, claiming proceeds of crime as untainted property:
Answer and explanation
Correct answer B
The Explanation to section 3 lists "claiming as untainted property" as a separate process, so a person who knowingly makes such a claim commits money-laundering whether or not he possesses the property. Section 3 sets no monetary threshold and is not limited to public servants.