Question
Under the PMLA, a person is guilty of money laundering if they are found to have directly or indirectly engaged in which of the following activities connected with the proceeds of crime?
Solution
Section 3. Offence of money-laundering: Explanation (i) a person shall be guilty of offence of money-laundering if such person is found to have directly or indirectly attempted to indulge or knowingly assisted or knowingly is a party or is actually involved in one or more of the following processes or activities connected with proceeds of crime, namely:-- (a) concealment; or (b) possession; or (c) acquisition; or (d) use; or (e) projecting as untainted property; or (f) claiming as untainted property, in any manner whatsoever.
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