Q. Consider the following statements regarding recent I4C’s inclusion under PMLA, 2002:
1.I4C is the 27th entity authorized to share information with the Enforcement Directorate under Section 66 of PMLA, 2002.
2.I4C operates under the Ministry of Finance to combat cyber-enabled financial crimes.
Which of the statements given above is/are correct?
Answer: A
Notes:
Explanation: Only Statement 1 is correct
Statement 1 is correct: The Finance Ministry has included the I4C in the list of agencies with which the Enforcement Directorate is permitted to share information under the Prevention of Money Laundering Act (PMLA). I4C will be the 27th entity authorized for getting data from ED under Section 66 of Prevention of Money Laundering Act (PMLA), 2002.
Statement 2 is incorrect: The measure comes amid growing instances of cyber frauds, Digital arrest and most cyber frauds are trans-national in nature. I4C operates under the Ministry of Home Affairs.
Source: BL
Discover more from Free UPSC IAS Preparation Syllabus and Materials For Aspirants
Subscribe to get the latest posts sent to your email.
