All provisions · AML/CFT Act (Cap. 251) · Part Ii: Offence of money laundering and related offences
4 Acquisition, use or possession of proceeds of crime
(1) A person who—
(a) acquires;
(b) uses; or
(c) has possession of property and who, at the time of acquisition, use or possession of such property, knows or has reasonable grounds to believe that the property forms part of the proceeds of a crime committed by him or by another person, commits an offence of money laundering and is liable on conviction—
(i) to a fine not exceeding SCR5,000,000 or to imprisonment for a term not exceeding 15 years or to both; and
(ii) to a fine not exceeding SCR10,000,000 in case of a person other than a natural person.
(a) acquires;
(b) uses; or
(c) has possession of property and who, at the time of acquisition, use or possession of such property, knows or has reasonable grounds to believe that the property forms part of the proceeds of a crime committed by him or by another person, commits an offence of money laundering and is liable on conviction—
(i) to a fine not exceeding SCR5,000,000 or to imprisonment for a term not exceeding 15 years or to both; and
(ii) to a fine not exceeding SCR10,000,000 in case of a person other than a natural person.
Official source: Anti-Money Laundering and Countering the Financing of Terrorism Act (Cap. 251), Act 5 of 2020, Revised Edition as at 17 January 2025 (Acts 5 of 2020, 7 of 2021, 8 of 2021, 62 of 2021, 9 of 2022, 12 of 2024, S.I. 145 of 2020)
