Under the Prevention of Money-laundering Act, 2002, which of the following statements is correct?
Section 3 covers whoever "directly or indirectly" attempts to indulge, assists, is a party to or is involved in concealment, possession, acquisition, use, projecting or…
Choose your answer
Under the Prevention of Money-laundering Act, 2002, which of the following statements is correct?
Answer and explanation
Correct answer B
Section 3 covers whoever "directly or indirectly" attempts to indulge, assists, is a party to or is involved in concealment, possession, acquisition, use, projecting or claiming proceeds as untainted. Possession is not essential, and liability is not confined to one form of involvement.