New Enroll for RBI, PFRDA & NABARD Intro Class! April 18 at 9:15 PM

    Question

    What is the maximum term of punishment for money

    laundering?
    A 3 years Correct Answer Incorrect Answer
    B 5 years Correct Answer Incorrect Answer
    C 7 years Correct Answer Incorrect Answer
    D 10 years Correct Answer Incorrect Answer

    Solution

    Section 4 of Prevention of Money Laundering Act - Punishment for money-laundering.—Whoever commits the offence of money-laundering shall be punishable with rigorous imprisonment for a term which shall not be less than three years but which may extend to seven years and shall also be liable to fine: Provided that where the proceeds of crime involved in money-laundering relates to any offence specified under paragraph 2  of Part A of the Schedule, the provisions of this section shall have effect as if for the words “which may extend to seven years”, the words “which may extend to ten years” had been substituted.

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