Section 5 - Attachment of property involved in money-laundering.

Attachment of property permits provisional seizure of suspected money laundering proceeds pending adjudication and referral to the Adjudicating Authority.

Section 5 authorises the Director or an authorised officer not below Deputy Director to provisionally attach property believed to be proceeds of crime where concealment or transfer is likely to frustrate confiscation, subject to a limited attachment period and procedural conditions. The officer must forward the attachment order and material in a sealed envelope to the Adjudicating Authority immediately and file a complaint about the attachment within thirty days. Attachments cease on expiry of the period or earlier under the prescribed provision, and enjoyment of attached immovable property by persons interested is preserved.