Under the Prevention of Money-laundering Act, 2002, money-laundering includes which of the following…
The Explanation to section 3 lists "concealment; or possession; or acquisition; or use", along with projecting or claiming as untainted property, as processes connected with…
Choose your answer
Under the Prevention of Money-laundering Act, 2002, money-laundering includes which of the following activities?
Answer and explanation
Correct answer D
The Explanation to section 3 lists "concealment; or possession; or acquisition; or use", along with projecting or claiming as untainted property, as processes connected with proceeds of crime. Involvement in any one of them is money-laundering, so concealment, use, and acquisition and possession all qualify.