CAF-4 · Chapter 15 · Question 3 of 9
In addition to imprisonment, what is the maximum financial fine that can be imposed on an individual found guilty of money laundering?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: C) Rs. 25 million
Explanation
The law states that a person guilty of money laundering shall be liable to a fine which may extend up to Rs. 25 million.
More Anti-money laundering and electronic payments MCQs
- Q5In an arbitration agreement where each party appoints one arbitrator, what is the default rule for appointing an 'umpire' if the agreement…
- Q6If the appointed arbitrators allow their time to expire without making an award, what is the immediate legal consequence?
- Q7Which of the following is an 'implied power' granted to arbitrators under the Arbitration Act, 1940?
- Q8In legal proceedings involving the estate of a deceased person, how is a 'legal representative' defined?
- Q9Under the Anti-Money Laundering Act, a person commits an offence if they hold or possess property on behalf of another, knowing what?