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    Question

    What is the main objective of the Prevention of Money

    Laundering Act (PMLA), 2002? 
    A To impose tax on illegal income Correct Answer Incorrect Answer
    B To prevent and control money laundering and associated activities Correct Answer Incorrect Answer
    C To regulate banking operations Correct Answer Incorrect Answer
    D To investigate all financial crimes Correct Answer Incorrect Answer
    E To promote foreign investment Correct Answer Incorrect Answer

    Solution

    PMLA primarily aims to prevent money laundering and to provide for confiscation of property derived from or involved in money laundering.

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