As per PML Act, 2002, which came into effect from 2005, money laundering is punishable by

A. Rigorous imprisonment for 3 - 7 years

B. Fine of Rs.5 lakhs

C. Both A & B

D. None of the above

Answer: Option C

Solution(By Examveda Team)

As per PML Act, 2002, which came into effect from 2005, money laundering is punishable by Rigorous imprisonment for 3 - 7 years and Fine of Rs.5 lakhs.