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PMLA is an act by Indian government to curb black money. For what does ‘P’ in ‘PMLA’ stands for?

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PMLA is an act by Indian government to curb black money. For what does ‘P’ in ‘PMLA’ stands for?
1). Power
2). Prevention
3). People
4). Proper


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Answered by on | Votes 0 |
  • ‘PMLA’ stands for Prevention of Money Laundering Act.
  • It is an act of parliament to prevent money laundering came into effect on July 1, 2005.
  • Money laundering is the process of obtaining money from criminal activity like drugs dealing, terror activity etc.
  • If found guilty in the Money Laundering Act, PMLA defines rigorous punishment from five to ten years.

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