IIBF AML KYC Practice Questions - IIBF Certificate Examination In AML And KYC (India) Exam

What is the standard punishment for committing the offence of money laundering under Section 4 of the PMLA, 2002?

Rigorous imprisonment for 1 to 5 years and a fine up to ₹1 lakh Rigorous imprisonment for 3 to 7 years and a liability to fine Simple imprisonment for 2 to 5 years with no provision for fines Imprisonment for life and confiscation of all ancestral property

Correct Answer:

Rigorous imprisonment for 3 to 7 years and a liability to fine

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