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      Question

      What is the main objective of the Prevention of Money

      Laundering Act (PMLA), 2002?Β 
      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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