money laundering definition

money laundering means the conversion or transfer of property, knowing that such property is the proceeds of crime, for the purpose of concealing or disguising the illicit origin of the property or of helping any person who is involved in the commission of the predicate offence to evade the legal consequences of his or her actions, or the concealment or disguise of the true nature, source, location, disposition, movement or ownership of or rights with respect to property, knowing that such property is the proceeds of crime.

money laundering refers to: (a) the conversion or transfer of property, knowing that such property is the proceeds of crime, for the purpose of concealing or disguising the illicit origin of the property or of helping any person who is involved in the commission of the crime to evade the legal consequences of his or her action; (b) the concealment or disguise of the true nature, source, location, disposition, movement or ownership of or rights with respect to property, knowing that such property is the proceeds of crime; 3 or (c) the acquisition, possession or use of property knowing at the time of its receipt that it is derived from a criminal offence.

money laundering has the meaning as set forth at paragraph a below.

Examples of money laundering in a sentence

• As part of our obligations under the UK Money Laundering Regulations, Alder King LLP requires any purchaser or tenant to provide information and documentation to satisfy our legal obligations.

• It also performs tasks in the field of mutual legal assistance.The Money Laundering Reporting Office Switzerland (MROS) plays a key role in the efforts of the Confederation to combat corruption.

• For instance, the Prevention of Money Laundering Act (PMLA) and the Prevention of Corruption Act (PCA) are two different laws that address financial crimes, but they have different provisions, definitions, and punishments.

• Under Sec 45(1) of PMLA 2002, an accused, booked for an offence punishable with a jail term of more than three years under Part A of the Schedule, seeking bail would have to satisfy certain additional conditions, over and above those that were prescribed under the relevant provisions of CrPC, 1973.The 2019 Amendment to the Prevention of Money Laundering Act (PMLA) saw the repeal of Sections 17(1) and 18(1), and the extension of the Enforcement Directorate (ED) officers' powers.

• When the Money Laundering Reporting Office receives a report of suspicions, it analyzes the report and decides whether to refer it to law enforcement authorities in accordance with article 23 paragraph 4 of the LBA.

More Definitions of money laundering

money laundering means the acquisition, possession, use, conversion, transfer or concealment of the true nature of property of any description, and legal documents or instruments evidencing title to, or interest in, such property, knowing that such property is an economic advantage from criminal offences, for the purpose of:

money laundering means conduct by 1 or more persons that conceals the existence, illegal source, or illegal application of income and then disguises that income to make it appear legitimate. Money laundering includes, but is not limited to, conduct that violates any state or federal law that imposes a criminal penalty for money laundering.

money laundering means the acquisition, possession, use, conversion, transfer or concealment of the true nature of property of any description, and legal documents or instruments evidencing title to, or interest in, such property, knowing that such property is an economic advantage from criminal offences, for the purpose of: (a) concealing or disguising the illicit origin of the property; or (b) assisting any person who is involved in the commission of the criminal offence as a result of which such property is generated, to evade the legal consequences of such actions.

money laundering means the actual or attempted conspiracy to commit or commission, aiding, abetting, counseling, procuring, or inciting of any act which is in breach of and/or constitute an offence or offences under the Anti- Money Laundering Act of 2001 and any amendment thereto.

money laundering means an offence under any of the provisions of sections 3, 4 and 7;

money laundering means the following conduct when committed intentionally:

money laundering means doing any act which constitutes an offence under sections 4 to 6;