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PMLA - Coggle Diagram
PMLA
Sec 12: Obligation of Banking Companies, Financial Institutions and Intermediaries
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Furnish to the Director within time prescribed, information relating to such transactions,
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identify the beneficial owner, if any, of its clients as prescribed;
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Definitions
Money-Laundering
WHOSOEVER-
----directly or indirectly attempt to indulge,or
knowingly assists,or
knowingly a party.or
actually involved
---in a process or activity connected with proceeds of crime including
its concealment, possession, acqusition, use
--- projecting or claiming it as untained property
---shall be gulity of offence of Money laundering
Proceeds of crime
means any property
Corporeal or incorporeal
movable or immovable
tangible or intangible
deeds & document( evidencing title)
derived or obtained,
directly or indirectly, by any person relating to a scheduled offence or
the value of any such property.
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