Your Legal Eye:
Do you know that a person who knows or ought to have known that a property is, or forms part of the proceeds of unlawful activity and that person converts, conceals, disguises or transfers the property for the purpose of concealing or disguising the illicit origin of the property commits an offence of money laundering and is liable on summary conviction to a fine of up to 500% of the proceeds of the money laundering or a term of imprisonment up to 10 years or both? Sections 1(2) & 4 of Anti-Money Laundering Act, 2020 (Act 1044).
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