Money Laundering Definition

PPB AML- KYC Guidelines Free JAIIB Capsule 35 views Updated
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PPB · AML- KYC Guidelines
Under which Act and Section is the offense of Money Laundering defined in India?
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Sec 3 of the Prevention of Money Laundering Act (PMLA), 2002.
It involves attempting to indulge in, or assisting with, proceeds of crime and projecting it as untainted property. It is a cognizable, non-bailable offense.
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Money Laundering Definition — Full Text

Under which Act and Section is the offense of Money Laundering defined in India?

Answer

Sec 3 of the Prevention of Money Laundering Act (PMLA), 2002.

Additional notes

It involves attempting to indulge in, or assisting with, proceeds of crime and projecting it as untainted property. It is a cognizable, non-bailable offense.

Part of Principles & Practices of Banking · AML- KYC Guidelines · Last updated

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