Under the Prevention of Money-laundering Act, 2002, the term "projecting proceeds as untainted" includes:
"Projecting as untainted property" in the Explanation to section 3 means presenting proceeds of crime as if they were lawfully acquired, for example through false invoices…
Choose your answer
Under the Prevention of Money-laundering Act, 2002, the term "projecting proceeds as untainted" includes:
Answer and explanation
Correct answer A
"Projecting as untainted property" in the Explanation to section 3 means presenting proceeds of crime as if they were lawfully acquired, for example through false invoices or sham loans. Hiding and spending the proceeds are concealment and use, which the Explanation lists separately, and sending them abroad is not in itself projection.