Under the Prevention of Money-laundering Act, 2002, other types of "specified transactions" may include-
The residual limb includes prescribed transactions in the interest of revenue or with high laundering or terrorist-financing risk. Routine salary, cheque or ATM descriptions…
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Under the Prevention of Money-laundering Act, 2002, other types of "specified transactions" may include-
Answer and explanation
Correct answer A
The residual limb includes prescribed transactions in the interest of revenue or with high laundering or terrorist-financing risk. Routine salary, cheque or ATM descriptions do not qualify automatically; they are not categorically immune if prescribed criteria are met.