Money laundering definitions clarify claimant rights and interpretation by reference to the principal anti money laundering statute. Definitions fix key terms: Act refers to the Prevention of Money-laundering Act; claimant means a person acting in good faith who, despite reasonable ... Summary
Money laundering definitions clarify claimant rights and interpretation by reference to the principal anti money laundering statute.
Definitions fix key terms: Act refers to the Prevention of Money-laundering Act; claimant means a person acting in good faith who, despite reasonable precautions, suffers a quantifiable loss from money laundering and is not involved in the offence; words undefined in the rules take the meanings assigned in the Act.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.