Solved IB ACIO Question
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Q · Economic Security and Black MoneyMedium · 45s
Consider the following statements about Hawala networks: 1. Hawala is an informal money transfer system based primarily on trust and is not recorded officially. 2. Hawala transactions are legally regulated by the Reserve Bank of India. 3. Hawala can be misused for terror financing and money laundering. Which of the statements given above is/are correct?
TopicEconomic Security and Black Money
Question Typemultiple choice
DifficultyMedium
Marking+1 / −0.25
From TestChapter Test 1 (Chapter Test)
Test Duration30 min
Q 1 / 30Next question →
Step-by-Step Solution
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Hawala is an unregulated, trust-based remittance channel; it is not regulated by the RBI. It is often misused for terror financing, black money, and laundering.
Final Answer: Option A — 1 and 3 only