10 Questions
Which of the following actions can lead to the offence of money laundering?
All of the above
What is required for a person to be guilty of the offence of money laundering?
Having reason to believe that the property is proceeds of crime
Which of the following is NOT an act specified in the offence of money laundering?
Transferring property
In which section of the law is the offence of money laundering defined?
Section 03 a
What is the punishment for the offence of money laundering?
Both fine and imprisonment
What are the four actions that can lead to the offence of money laundering?
The four actions are acquiring, converting, possessing, and transferring property.
What does it mean to conceal or disguise the true nature, origin, location, disposition, movement or ownership of property?
It means to hide or alter the information related to the property to make it difficult to trace its true origin or ownership.
Can holding or possessing property on behalf of someone else be considered an offence of money laundering?
Yes, if the person knows or has reason to believe that the property is proceeds of crime.
What types of participation can make a person guilty of the offence of money laundering?
Participating, associating, conspiring, attempting, aiding, abetting, facilitating, or counseling the commission of the specified acts.
Is money laundering a punishable offence?
Yes, money laundering is a punishable offence. The punishment may vary depending on the jurisdiction and the severity of the crime.
Test your knowledge on the offence of money laundering with this quiz. Learn about the different actions that constitute money laundering and understand the importance of identifying proceeds of crime. See if you can answer questions on concealing or disguising the true nature of property and the consequences of engaging in this illegal activity.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
