Under the Prevention of Money-laundering Act, 2002, which of the following is true regarding an attempt…
Section 3 punishes whosoever "directly or indirectly attempts to indulge" in the proceeds-of-crime process, so an unsuccessful attempt at money-laundering is itself made…
Choose your answer
Under the Prevention of Money-laundering Act, 2002, which of the following is true regarding an attempt to launder money?
Answer and explanation
Correct answer B
Section 3 punishes whosoever "directly or indirectly attempts to indulge" in the proceeds-of-crime process, so an unsuccessful attempt at money-laundering is itself made punishable, not only a completed act, and applies to individuals generally, not corporate entities or government employees alone.