Question 154

The Govt of India is in the process of bringing some changes and amendments in the existing Money Laundering Act What are the changes suggested in the law ?
(A)Some payment gateways like Master and Visa Cards are required to be discontinued with immediate effect
(B)Money Transfer Services like Western Union should be brought under the purview of the Act
(C)A New Financial Intelligence Unit will be setup to keep a check on huge cash transactions


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