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What is the primary objective of the Prevention of Money Laundering Act (PMLA), 2002 in India?
  • a)
    To facilitate money laundering activities
  • b)
    To prevent and control money laundering
  • c)
    To promote illegal financial transactions
  • d)
    To encourage the concealment of illicit funds
Correct answer is option 'B'. Can you explain this answer?
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What is the primary objective of the Prevention of Money Laundering A...
The primary objective of the Prevention of Money Laundering Act (PMLA), 2002 in India is to prevent and control money laundering activities. The Act aims to combat the illegal process of making large amounts of money generated by a criminal activity appear to have come from a legitimate source. By enforcing this act, authorities can combat financial crimes and seize properties obtained through laundered money, ensuring greater transparency and accountability in financial transactions.
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What is the primary objective of the Prevention of Money Laundering Act (PMLA), 2002 in India?a)To facilitate money laundering activitiesb)To prevent and control money launderingc)To promote illegal financial transactionsd)To encourage the concealment of illicit fundsCorrect answer is option 'B'. Can you explain this answer?
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