Multiple choice

The PML Act is an important piece of financial legislation. What is the full form of PML Act?

  1. Promotion of Monetary Legislation Act

  2. Prevention of Monetary Loss Act

  3. Promotion of Monetisation Act

  4. Prevention of Money Laundering Act
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The Prevention of Money Laundering Act (PMLA) was enacted in 2002 to prevent money laundering and provide for confiscation of property derived from money laundering.

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