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    Question

    Under the PMLA, 2002, the offence of money laundering is

    defined under which of the following sections?
    A Section 2(u) Correct Answer Incorrect Answer
    B Section 3 Correct Answer Incorrect Answer
    C Section 4 Correct Answer Incorrect Answer
    D Section 5 Correct Answer Incorrect Answer
    E Section 17 Correct Answer Incorrect Answer

    Solution

    Section 3 of the PMLA, 2002 defines the offence of money laundering. It states that a person shall be guilty of the offence of money laundering if such person is directly or indirectly attempting to indulge or knowingly assisting or knowingly is a party or is actually involved in any process or activity connected with the proceeds of crime including its concealment, possession, acquisition or use and projecting or claiming it as untainted property.

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