Under the Prevention of Money-laundering Act, 2002, do "proceeds of crime" include property indirectly…
Section 2(1)(u) expressly covers property derived or obtained "directly or indirectly" from criminal activity relating to a scheduled offence, so indirectly obtained…
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Under the Prevention of Money-laundering Act, 2002, do "proceeds of crime" include property indirectly obtained from a scheduled offence?
Answer and explanation
Correct answer A
Section 2(1)(u) expressly covers property derived or obtained "directly or indirectly" from criminal activity relating to a scheduled offence, so indirectly obtained property also qualifies as proceeds of crime, not only property received directly.