Placement, Layering and Integration — Prelims Questions

Which of the following techniques is primarily associated with the 'Placement' stage of money laundering?

Consider the following statements regarding the Prevention of Money Laundering Act (PMLA), 2002: 1. The PMLA defines 'money laundering' as an offence involving concealment, possession, acquisition, or use of proceeds of crime. 2. The Financial Intelligence Unit-India (FIU-IND) is the primary enforcement agency under PMLA. 3. The PMLA allows for the attachment of property derived from criminal activity, even if it is held outside the country. Which of the statements given above are correct?

Which of the following best describes the primary objective of the 'Layering' stage in money laundering?

Consider the following statements regarding Trade-Based Money Laundering (TBML): 1. TBML is primarily a technique used in the 'Placement' stage of money laundering. 2. Over-invoicing and under-invoicing of goods are common methods employed in TBML. 3. TBML often exploits the complexities of international trade to move value across borders. Which of the statements given above is/are correct?

The 'Vijay Madanlal Choudhary & Ors. v. Union of India & Ors.' Supreme Court judgment (2022) significantly impacted the interpretation of PMLA. Which of the following was a key outcome of this judgment?