Law · Prevention of Money Laundering Act
Money laundering is often linked with predicate or scheduled offences. In legal terms, this means that laundering generally arises when:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Currency exchange is carried out at a licensed money changer
- 2A tax demand remains unpaid for more than one financial year
- 3A person deposits any large amount of savings in a nationalized bank
- 4An offence has produced proceeds of crime which are then concealed, possessed, projected, or used as untainted property✓
Correct answer
An offence has produced proceeds of crime which are then concealed, possessed, projected, or used as untainted property
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