Which of the following is not a mode of money-laundering under Section 3 of the Prevention of Money…
Section 3's processes are all tied to "proceeds of crime" under section 2(1)(u), so the legal investment of a person's own lawfully obtained funds is not a mode of…
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Which of the following is not a mode of money-laundering under Section 3 of the Prevention of Money Laundering Act, 2002?
Answer and explanation
Correct answer C
Section 3's processes are all tied to "proceeds of crime" under section 2(1)(u), so the legal investment of a person's own lawfully obtained funds is not a mode of money-laundering, unlike concealment, acquisition, or claiming tainted proceeds as untainted.