Question

What is the punishment for the offence of money

Q: Answer-What is the punishment for the offence of money laundering under Section 4 of PMLA?

Explanation Section 4 of the PMLA provides for punishment for money laundering. It prescribes rigorous imprisonment for a term which shall not be less than 3 years but may extend to 7 years. However, if the predicate offence is under the Narcotic Drugs and Psychotropic Substances Act, the maximum punishment may extend to 10 years. Fine is also imposed in addition to imprisonment.

laundering under Section 4 of PMLA?

A Imprisonment up to 1 year or fine B.

B Imprisonment of 6 months to 3 years

C Rigorous imprisonment of not less than 3 years and up to 7 years (extendable to 10 years in certain cases) and fine

D Fine only

E Warning and release

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What is the punishment for the offence of money

Solution