Question
Under Section 3 of PMLA, which of the following is NOT
necessary for an act to constitute the offence of money-laundering?Solution
Section 3 of PMLA defines the offence of money-laundering as: whosoever directly or indirectly attempts to indulge or knowingly assists or knowingly is a party or is actually involved in any process or activity connected with the proceeds of crime and projecting it as untainted property shall be guilty of money-laundering. The key element is projecting proceeds of crime (dirty money) as untainted (clean) property - not the reverse. Option B incorrectly states 'projecting untainted property as proceeds of crime,' which is the opposite direction and is not an offence under PMLA. Options A, C, D, and E all align correctly with the statutory definition. This is a frequently tested distinction in banking law exams.
Statements: M > P > Q < R = T; A < B ≤ C = P; L > N = T > X
Conclusions:
I. Â R > P
II. Â R < P
...Statements: Q ≥ R > U; R ≤ S; U ≥ B
Conclusions: I. U < Q II. S > B
...Which of the following symbols should replace the sign ($) and (#) in the given expression in order to make the expressions V ≥ Y and X > B definitel...
Statements: S > V = T, U < X < T, W > U
Conclusions:
I. W > T
II. V > U
III. S > X
In the question assuming the given statements to be true, find which of the conclusion(s) among given four conclusions is/are definitely true and then ...
Statements: G < H ≤ I, V ≥ W = G, R ≥ I = A
Conclusions :I. R > G  II. A ≥ H   III. H ≤ R
...In the question, assuming the given statements to be true, find which of the conclusion (s) among given three conclusions is /are definitely true and t...
Statements: P > R; Q > S = W < T ≥ V; R > U = Q
Conclusions:
I. Q < P
II. T > R
III. U > V
Statements: Q ≥ R > U; R ≤ S; U ≥ B
Conclusions: I. B < R II. B ≤ Q
Statements: F = G ≤ H = J ≤ I, K > L > O = I, D > M > F
Conclusions:
I. O ≥ F
II. D > G
III. K > F
