23+ Maximum Punishment Prescribed For The Offence Of Money Laundering Is
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23+ Maximum Punishment Prescribed For The Offence Of Money Laundering Is. The penalty of imprisonment ranging from seven (7) to fourteen (14) years and a fine of not less than three million philippine pesos (php3,000,000.00) but not more than twice the value of the monetary instrument or property involved in the offense, shall be imposed upon a person convicted under section 4 (a) of this act. Proceeds of crime act 2002 s.332 :
2 from Proceeds of crime act 2002 s.333 : Money laundering offences—acquisition, use and possession. Shall be sentenced to a fine of not more than $500,000 or twice the value of the property involved in the transaction, whichever is greater, or imprisonment for not more than twenty years, or both.
Death penalty in some cases.
The acquisition, use or possession offence ( poca 2002, s 329) the money laundering offences cover every type of offence and are all either way. See coming into force provision and notes, where applicable. Countries should apply the crime of money laundering to all serious offences, with a view to including the widest range of predicate offences. Failure to disclose knowledge or suspicion of money laundering:
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