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      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?
      A Only concealing the proceeds of crime Correct Answer Incorrect Answer
      B Only possessing the proceeds of crime Correct Answer Incorrect Answer
      C Engaging in concealment, possession, acquisition, use, projecting as untainted property, or claiming as untainted property Correct Answer Incorrect Answer
      D Only using the proceeds of crime for legal purposes Correct Answer Incorrect Answer
      E Reporting the proceeds of crime to authorities Correct Answer Incorrect Answer

      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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