Which of the following activities alone is sufficient for liability under Section 3 of the Prevention…
The Explanation to section 3 treats each process, "concealment; or possession; or acquisition; or use; or projecting as untainted property", as enough on its own when done…
Choose your answer
Which of the following activities alone is sufficient for liability under Section 3 of the Prevention of Money Laundering Act, 2002?
Answer and explanation
Correct answer D
The Explanation to section 3 treats each process, "concealment; or possession; or acquisition; or use; or projecting as untainted property", as enough on its own when done with the knowledge the section requires. So concealment, possession and projecting each suffice without proof of the others.