Under the Prevention of Money-laundering Act, 2002, which of the following statements is false?
Section 3 applies to "whosoever" is involved in the proceeds-of-crime process, a term covering individuals as well as companies, so it is false to say the offence is…
Choose your answer
Under the Prevention of Money-laundering Act, 2002, which of the following statements is false?
Answer and explanation
Correct answer C
Section 3 applies to "whosoever" is involved in the proceeds-of-crime process, a term covering individuals as well as companies, so it is false to say the offence is punishable only for corporate entities, unlike attempts, listed activities, and indirect involvement, which the section clearly does cover.