Money laundering definition expanded to include domestic equivalent property and threshold for reporting raised under amended law The amendment expands the statutory property definition by treating domestic property equivalent in value to property held abroad as within the scope of money laundering provisions, and raises the monetary threshold that determines when property or transactions meet the statutory definition, thereby broadening domestic reach and adjusting the financial quantum for applicability.
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Money laundering definition expanded to include domestic equivalent property and threshold for reporting raised under amended law
The amendment expands the statutory property definition by treating domestic property equivalent in value to property held abroad as within the scope of money laundering provisions, and raises the monetary threshold that determines when property or transactions meet the statutory definition, thereby broadening domestic reach and adjusting the financial quantum for applicability.
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